The International Air Transport Association (IATA) on Wednesday revised its airline economic performance forecast for the year 2021 putting net post-tax losses forecast at $47.7 billion in 2021 as against a $38 billion projected in December. “Financial performance will be worse and more varied this year than we expected in our December forecast, because of […]

‘Airlines should interline, codeshare to survive’  The foreign exchange (FX) liquidity crisis is eating deeper into the daily operations of the local airlines, causing airlines’ capacity to dwindle and hitting up airfares. The Guardian, yesterday, learned that operators in the aviation sector have not received FX requests from the Central Bank since February, which explains why

At least two new airlines are warming up to make entry into the local operations flying the turboprop aircraft. We learned that between the two new carriers are about 22 turboprop aircraft, coming into the country in about two years of operations. The aircraft type, currently in the operations of Overland Airways and Arik Air,

The International Air Transport Association (IATA) released February 2021 data for global air cargo markets showing that air cargo demand continued to outperform pre-COVID levels with demand up 9 per cent over February 2019. Global demand, measured in cargo tonne-kilometers, was up 9per cent compared to February 2019 and +1.5per cent compared to January 2021. All

Olateru Identifies Tools Needed To Aid AIB’s Investigation Mandate The Commissioner and Chief Executive Officer of the Accident Investigation Bureau Nigeria (AIB-N), Mr Akin Olateru has emphasised maximum cooperation, diligence, conscientiousness and professionalism as the essential tools needed to achieve the Bureau’s mandate of investigating aircraft accidents and serious incidents. Olateru made the declaration while

There is palpable fear in the Nigerian aviation industry that Jet A1, otherwise known as aviation fuel, may be contaminated by independent fuel marketers following the hike in the price of the product to N275 per litre from N220 a few weeks ago. Domestic air travelers may be compelled to pay more for air tickets as

The Asset Management Corporation of Nigeria (AMCON) is floating a Holding Company (HoldCo) structure that will enable it warehouse and sell aviation assets for strategic exit from the sector. A top executive of the company said yesterday that the corporation has applied for Air Operating License (AOL) that would enable it commence the HoldCo structure

SECURITY around the nation’s airports will be heightened following an alert from the ministry of aviation over planned attacks on airports across the country including Kaduna, Maiduguri, Sokoto, Kano, Abuja, and Lagos. A memo dated April 9, 2021 signed by Federal Airports Authority of Nigeria (FAAN) deputy general manager of administration and logistics, S.M. Mamman

Unrepatriated funds of foreign airlines in Nigeria and 16 other African countries have been estimated at $601 million. The stuck fund is proceeds of ticket sales made in local currency but blocked due to the non-availability of foreign exchange to recoup it. The International Air Transport Association (IATA) disclosed as it appealed to African governments