News

  A former Managing Director of the Federal Airports of Authority of Nigeria (FAAN), Richard Aisuebeogun has called on airline operators to build carriers that would stand the test of time by seeking strong financial partnership and open themselves up for investors.   Aisuebeogun stated that a report of survey carried out in May, 2016 says over the past 12 years nearly 37 airlines were launched in Africa, and almost all of them had failed –…

*Audits, clears Arik   The Nigerian Civil Aviation Authority (NCAA) has warned all industry stakeholders to avoid anti-competitive practices in the aviation sector.   The aviation regulatory body expressed concern over recent cases of what it described as disinformation prevalent in the industry.   The agency further noted that it is unfathomable that some questionable sources have been posting and circulating some cruelly fictitious stories about some airlines – insinuating a crash or claiming a…

Air Peace Airlines has announced extension of services to Uyo as the carrier said it would commence scheduled flight operations to the city on December 18, 2016 and out of Uyo the next day. In a related development, the airline has assured air travellers that it has made adequate preparation with vendors for the supply of aviation fuel throughout the festive period and beyond to ensure hitch-free flight operations. A statement issued by the Corporate…

  Etihad Airways, the national carrier of the United Arab Emirates and Lufthansa German Airlines, part of Europe’s largest airline group has announced the conclusion of a codeshare agreement. The arrangement is set to start in January 2017, subject to government approval.   The wet-lease agreement between Lufthansa Group and airberlin – in which Etihad Aviation Group indirectly holds a 29 per cent stake – was also announced today.     Lufthansa’s point-to-point carrier Eurowings…

*N753.6 billion released for capital expenditure in Oct2016.   President Muhammadu Buhari has assured that most of the stalled projects in the aviation industry would resume and be completed in record time.   He particularly mentioned four of the terminals under construction at the Murtala Muhammed Airport, Lagos, Mallam Aminu Kano International Airport, Kano, Nnamdi Azikiwe International  Airport, Abuja and the Port-Harcourt Airport.   The President made the disclosure  at the presentation of 2017 ‘budget of…

*Firms downsize, cut work force * Bristow explores new opportunities to meet demands   Helicopter operators said tumbling oil prices rippling through the helicopter industry have affected the big chunk of their business.   The helicopter market is struggling at the moment with stumbling oil price in the oil and gas market.   The operators who spoke to Woleshadare.net said the situation has cut their operations by half, leading to the release of hundreds of pilots…

The latest financial results from Q3 2016 continue to indicate another solid quarter for industry profitability, although there are ongoing signs that momentum in the profitability cycle has weakened; according to a report from International Air Transport Association (IATA). This is coming as global airline share prices jumped by 7.5 per cent in November – the biggest monthly increase since October 2015.  This was led by carriers in North America, whose index surged by 16.4…

*Insolvency, panic, as airlines risk grounding as insurance expires *Experts warn of consequences Nigerian carriers are beginning to panic over a recent disclosure that Lyold of London are planning to blacklist Nigerian airlines over their inability to pay their insurance premium. Lloyd’s of London, generally known simply as Lloyd’s, is an insurance market located in London’s primary financial district, the City of London. Unlike most of its competitors in the industry, it is not an insurance company. The…

There are indications that the country’s aviation travelling public may witness a complete cycle of sharp traffic decline this year if feelers from the National Bureau of Statistics (NBS), which is expected to make public its verdict next month, is anything to go by.   The report could see a decline following the trend of the reports of NBS for first and second quarters of 2016. NBS’s reports for first quarter showed total aviation passenger…