Business

…‘We owe no bank a dime’, repaid N3.1m in full settlement First Nation Airways has again clarified that it does not owe any banking institution (local or abroad) and disputed in good faith any indebtedness to Skyebank Plc. The airline in a statement signed by its media officer, Ademola Daniel and made available to the media stated, “We will vigorously defend our innocence with respect to the charges and are confident that we will obtain justice from…

MMA2 facilities rank among best in the world-Arik’s VP  It is official. Arik Air, Nigeria’s flag carrier airline today, moved its Port-Harcourt flights to the imposing, multi-billion naira Murtala Muhammed Airport 2, popularly called MMA2. For more than ten years, both the management of Arik led by a former owner of Arik, Sir Arumeni Johnson-Ikhide and Chairman Bi-Courtney Aviation Services Limited (BASL) Dr. Wale Babalakin engaged each other in a war of words over relocation…

With skyrocketing cost of Jet A1, is biofuel still considered an alternative to aviation kerosene? WOLE SHADARE asks     Virgin Atlantic lead the way   February 26, 2018 marks the 10th anniversary of the first demo flight on biofuel, which was executed by Virgin Atlantic. Since that day, over 100,000 commercial flights have used low carbon fuels.This is especially amazing since in 2006 when experts were told over and over that biofuel flight would never…

Director of Airports Operations, Federal Airports Authority of Nigeria (FAAN), Captain Rabiu Yadudu has said that the Ease of Doing Business has brought about a lot of efficiency in airport operations and synergy among security agencies. This is just as he said the authority is now a subscriber to the Airport Service Quality Program(ASP) an ICAO program that uses data gathering to help the agency measure its passengers reactions to all levels of its operations…

Why aviation fuel price could rise again-Airline chief CITA partners PUMA to bridge supply gap Except aviation fuel marketers improve on their aviation fuel supply chain, the aviation industry would continue to fail in meeting up with over 1 billion litre of Jet A1 needed for the sector annually. At N220 per litre cost, half of that, 500 million litres demands could not be met last year. Consequently, the sector loses over N110 billion to…

Why Nigerian carriers can’t compete-NANTA President Despite the tough economic situation in the country last year that affected the purchasing power of many, Nigerians still embraced air travel as ticket sold by foreign airlines in 2017 was more than N200 billion higher than in 2016. In 2017, air travel still recorded ticket sales of N511 b ($1.4) from January to October 2017. The 2016 tickets sold as released by Nigerian Civil Authority (NCAA) put earnings of…

as CBN releases $145m to carriers    Foreign airlines that had over $600 million funds trapped in Nigeria since two years ago can heave a sigh of relief as only $30 million is left to be offset by the Central Bank of Nigeria (CBN). Last August, the country’s apex bank released $425 million out of $600 million trapped funds, leaving $175 million in the coffers of CBN. And between August 2017 and January 2018, the government released…

  Airbus closed out 2017 with orders in December for 841 jetliners – the highest monthly intake in company history, and delivered 127 aircraft during the month – also marking an all-time high.  The new business at year-end was composed of 828 bookings for Airbus’ best-selling A320 single-aisle family in both its NEO and CEO versions; along with 13 A330s, eight of which will be produced in the A330-900neo configuration, and five A330-200s to be…