News

   GOVERNMENT INTERVENTION / BAILOUT – STRUCTURE & CONTENT Moreover, the onset of the COVID-19 pandemic has significantly increased the country’s fiscal deficit. Notably, the 2020 fiscal budget, which already had a huge deficit, assumes a US$57 per barrel, whereas Brent crude, the equivalent of our Bonny Light was selling at US$32.5 per barrel on 11th May 2020. Additionally, the Naira has already surreptitiously suffered 22% devaluation and the Minister of Finance has also announced…

  Ex NCAA DG advocates single digit interest rate Air Peace seeks funds to save job losses The Director-General of the Nigerian Civil Aviation Authority (NCAA), Capt Musa Nuhu said the country’s airlines were yet to articulate what they want to do with the stimulus package they seek from the Federal Government. He urged them to come up with broad based plans of the utilization of the bailout fund that the Federal Government is considering to…

    GOVERNMENT INTERVENTION / BAILOUT – STRUCTURE & CONTENT In solving a complex problem, there is a need to define the problem, identify the underlying issue(s), embrace all its simple facets and understand the peculiar nuances of each facet. Then determine the inter-relatedness or otherwise of the facets, aggregate these different facets in order to appreciate the best fit of the whole and finally proceed to resolve the issue(s). The aviation conundrum is a…

  Crew to undergo compulsory test every 14 days Airlines to pay for test   As the country prepares for the reopening of businesses, the Nigerian Civil Aviation Authority (NCAA) has issued post COVID-19 protocols for Nigerian based crew operating international flights. According to the new protocol, flight crew are now expected to wear Personal Protective Equipment (PPE) and observe Infection, Prevention and Control (IPC) measures for the duration of the flight. Contrary to the…

 Wants FG to Bailout Sector Over COVID-19 Asset Management Corporation of Nigeria (AMCON) said it has injected around N50billion into the aviation sector solely to stabilize airline operations in the country between 2012 and 2020.  The was disclosed on Wednesday by Mr. Aminu Ismail, the Executive Director, Operations at AMCON. He said AMCON’s intervention led to the purchase of about $1 billion Non-Performing Loans (NPL’s) from Nigerian banks owed by major Nigerian airlines including Aero Contractors,…

    Post-Covid-19 Aviation Opportunities As has been variously touted, every adversity presents with it an opportunity, if only we look closely enough. This COVID-19 pandemic has been no different, as it has created both hurdles and opportunities for entrepreneurs offering new products or services. • Surplus Aircraft Capacity Several airlines worldwide have had to shed substantial capacities in their fleets in the wake of the COVID-19 pandemic. This has been occasioned by the airport closures…

  Ex MD alleges violation of his right Star Orient Aviation Limited has explained circumstances that led to the arrest of its former Managing Director, Mr. Dare Osamo for alleged diversion of the company’s N1 billion. In a statement issued by the company, dated May 27th, 2020 titled, “Arrest of Former MD/CEO of Star Orient Aviation on Allegation of Fraud and Money Laundering: Setting The Records Straight,” It has become necessary that the Management of…

  The Federal Airports Authority of Nigeria (FAAN) arrangement to curtail the spread of coronavirus after resumption of flights could see delay in passengers’ facilitation and long hours of checks and re-checks right from when they arrive the airport and departs. Spokeswoman for FAAN, Mrs. Henrietta Yakubu made the disclosure at an aviation webinar organized by Women in Aviation (WIA), with theme, “Aviation: The New Norm in the post COVID”, she said escorts of VIPs would no…

  There is no doubt that COVID-19 has hit aviation industry very hard. The Federal Government is planning a fresh round of bail-out funds for struggling airlines. The problems of the airlines go beyond intervention fund. Give them N500b, the signs that they would collapse is visible, writes, WOLE SHADARE Worsening crisis Airlines face unprecedented international crisis in the wake of the coronavirus pandemic. The International Air Transport Association (IATA) estimates that global airlines will lose over…