Forex

Aviation sector grappling with inflation, Forex volatility, says Aboderin

Posted on by Wole Shadare
Aviation sector grappling with inflation, Forex volatility, says Aboderin

SAHCO announces ₦31.7 billion revenue The Managing Director of Skyway Aviation Handling Company (SAHCO) Plc, Mrs Adenike Aboderin, said the industry is grappling with inflation, higher utility costs, foreign-exchange volatility, and the burden of acquiring equipment and spare parts priced in foreign currency. She said these issues have continued to weigh heavily on handling companies, yet SAHCO has managed to sustain growth. “Despite that, SAHCO continues to deliver value to its stakeholders, shareholders, clients and airlines…

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United Nigeria eyes Forex flow with Sabre marketplace

Posted on by Wole Shadare
United Nigeria eyes Forex flow with Sabre marketplace

The Chairman of United Nigeria Airlines, Prof. Obiora Okonkwo, said the desire to reposition his airline through technology to reach global traffic and earn more Foreign exchange motivated the partnership between the airline and global travel technology company Sabre Corporation as the carrier is now captured on the Global Distribution System (GDS). The agreement marks the airline’s first collaboration with a global distribution technology partner, enabling it to distribute its product via Sabre’s expansive global…

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Forex scarcity forces operators to ‘cannibalise’ disused airplanes as carriers face existential threat

Posted on by Wole Shadare
Forex scarcity forces operators to ‘cannibalise’ disused airplanes as carriers face existential threat

Why 60% aircraft on offshore maintenance can’t return, Operators deplore spare price gouging, scarcity, travellers lament   The lack of foreign exchange for airlines to bring back their aeroplanes from maintenance overseas has put enormous pressure on the operators. Some have resorted to ‘cannibalising’ by using some parts of their unserviceable aircraft for the ones in use. Lying on the apron across many of the country’s airports are aircraft without engines and other parts which…

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IATA says Nigeria’s aviation needs help, laments access to Forex

Posted on by Wole Shadare
IATA says Nigeria’s aviation needs help, laments access to Forex

Aviation runs on dollar-Fatokun     The International Air Transport Association (IATA) has called for urgent assistance for the country’s aviation, stressing that the entire aviation value needs help to stay afloat and be profitable. This was the view of IATA’s Area Manager, West and Central Africa, Dr. Samson Fatokun when the group presented the IATA certificate of membership to United Nigeria Airlines that has been showing promise since the carrier was set up on February 12,…

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