‘Why under-capitalised carriers default on financial pact’

‘Why under-capitalised carriers default on financial pact’

As air travel volume has more than doubled in the past 15 years in response to a growing global economy, airlines are finding it increasingly difficult to meet up with their financial obligations, Woleshadarenews has learnt. In Nigeria particularly, the carriers’ under-capitalised status has made them to default on aircraft lease, maintenance and to the various aviation agencies. Many of them are grossly under-capitalised to less than N500 billion; a situation that has led to…

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Tweaking aviation business model to stay afloat

Tweaking aviation business model to stay afloat

To pare down their colossal operating costs, Nigerian carriers must restructure operations and eliminate complexity. WOLE SHADARE writes Adaptation One of the major problems of Nigerian carriers is the inability to tweak their operations when the model they start with appears not to be working. Yes, no airline goes into service with the sole aim of losing money or close shop quickly. But the dynamics of the business makes it very important for the carriers to quickly…

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IATA, ACI partner UN on human trafficking

IATA, ACI partner UN on human trafficking

Clearing house for global airlines, International Air Transport Association (IATA) has partnered with the Airport Council International (ACI) to support the United Nations World Day AgainstTrafficking in Persons. The two bodies emphasized their joint commitment and work to help combat human trafficking. Aviation connects the world, carrying more than four billion passengers a year, but this global network is also used nefariously by traffickers to transport people against their will. Airlines and airports are determined…

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Summer: European airspace choked, delays double in 2018

Summer: European airspace choked, delays double in 2018

As airlines add flights to new destinations and expand their offer to meet the expectations of travellers, air traffic in Europe is on the rise, creating greater demands on the continent’s airspace. Air Navigation Service Providers (ANSPs) manage each State’s airspace and charge overflight fees for the services they provide. As flight numbers have increased, so has their revenue. Eurocontrol calculates that European ANSPs have made an average 9.6% EBIT in recent years. Unfortunately, key…

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A modern transport system for Abuja

A modern transport system for Abuja

The long-awaited Abuja Light Rail Mass Transit Project was commissioned last week amidst jubilation and accolades. CALEB ONWE reports President Muhammadu Buhari, on Thursday commissioned the Abuja Light Rail project. The event was indeed a further step towards realising the aspirations of the founding fathers of Abuja. In its over 30 years of existence as the Federal Capital Territory, Abuja has been adjudged to be one of the fastest growing cities of the world, in terms of infrastructural development…

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JetBlue signs commitment for 60 A220-300 aircraft

JetBlue signs commitment for 60 A220-300 aircraft

 Converts 25 A320neo orders to larger A321neo  JetBlue became the first customer for the newly-rebranded Airbus A220 aircraft, signing a Memorandum of Understanding for 60 firm orders for the larger A220-300 model.  In addition, the airline converted 25 of its current orders for Airbus A320neo aircraft into orders for the larger A321neo. JetBlue’s A321neos and A220s will be powered by Pratt & Whitney GTF engines. “JetBlue’s selection of the A220 aircraft as a complement to…

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Over 37,400 new aircraft valued at $5.8 trillion required over 20 years

Over 37,400 new aircraft valued at $5.8 trillion required over 20 years

#AirbusGMF Global networks and citizens drive growth of 4.4% a year    The world’s passenger fleet will more than double to 48,000 aircraft in 20 years with traffic growing at a resilient 4.4% per year, driving a need for 37,390 new passenger and freighter aircraft according to Airbus’ new Global Market Forecast 2018-2037.  Growth drivers include private consumption increasing 2.4 times in emerging economies, higher disposable incomes and a near doubling of the middle classes…

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Airbus, UN team up for universal access to space

Airbus, UN team up for universal access to space

Airbus and the United Nations Office for Outer Space Affairs (UNOOSA) have signed a Memorandum of Understanding (MoU) during the UNISPACE+50 conference celebrating half a century of international cooperation in outer space.   The five-year renewable MoU aims to jointly build capabilities in developed and developing countries in microgravity experiments and its related benefits.    Furthermore it aims to build capability in terms of usage of Earth observation data and support the missions of the…

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Virgin Atlantic Top Summer Travel Tips for Families

Virgin Atlantic Top Summer Travel Tips for Families

Virgin Atlantic is excited to welcome on-board families and friends jetting off for the summer holidays. Planning is key, especially when travelling with kids and large groups. From choosing travel destinations to booking flights, sorting out travel documents, pre-ordering meals and bringing your own car seat. With the help of our ground teams and Cabin Crew, we have put together some helpful tips to help make your travel experience seamless and fun. Here’s what Frankie…

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Firm partners IOM to solve illegal migration

Firm partners IOM to solve illegal migration

NTEC 2018 winners emerge  Travel & Business News (TBN), a leading air transport magazine, recently partnered with the International Organization for Migration (IOM) to organize the 2018 edition of its Youth Empowerment Seminar (YES) to admonish Nigerian youths against the dangers and challenges of Illegal Migration.  The gathering which attracted youths from Secondary Schools and Tertiary Institutions across the country was part of activities to mark this year’s Children and Youth Day Celebrations and also…

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