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High interest rate killing aviation –Experts

Posted on March 4, 2016 by Wole Shadare

High interest rates and difficulty in accessing loans from commercial banks have been identified as some of the problems contributing to the near comatose state of the aviation industry. Managing Director, Financial Derivatives Limited, Bismarck Rewane, said this in the October 2015 monthly report made available to New Telegraph. Aviation analysts had advised that the Federal Government should offer low interest rates on loans given to airlines to keep them afloat, adding that some governments…

Angst over NCAA’s N150m boardroom refurbishment

Posted on March 4, 2016March 5, 2016 by Wole Shadare

Angst over NCAA’s N150m boardroom refurbishment Purchases 150 units of office chairs at N10m In a bid to come out of its financial crisis, The Nigeria Civil Aviation Authority (NCAA) has put in place system to block leakages at the agency. The aviation regulatory body had been in financial crisis leading to its inability to train workers and send inspectors to oversight aircraft. In the last three years until now, the NCAA had struggled to…

Low-cost carriers confront Africa’s airlines

Posted on March 4, 2016 by Wole Shadare

Before Fastjet launched low-cost flights between Harare and Dar es Salaam last year, Zimbabwean businessman Jonathan Jabangwe had to brave a three day bus journey to meet his clients in Tanzania. Fastjet is among a wave of low-cost airlines launching or expanding operations in Africa as they seek to capture middle-income people who are tired of dangerous road journeys but cannot afford major international carriers. According to Reuters, the new airlines hope to undercut larger…

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