Nigeria recorded a total of 15.89 million passengers who travelled through the nation’s airports in 2023, which is less than 16.17 million that passed through the airports in 2022. Experts who blamed the shortfall on the ‘Japa’ syndrome, said in 2023, about 2.04 million Nigerians travelled out of the country between January and December, while […]
*Country Risk Discourages Lessors to Lease Aircraft to Nigerian Airlines Airline Operators of Nigeria have declared that they are facing existential threat because of the challenges they face, ranging from scarcity of foreign exchange, high price of aviation fuel and the difficulty in acquiring aircraft due to country risk. The operators also pointed out that […]
Despite the recent payment of $61 million (N66 billion) to foreign airlines by the federal government as part of their revenue trapped in Nigeria, international carriers still charge Nigerians outrageous fares for international travels, THISDAY can report. Before the federal government paid the $61 million, trapped funds in Nigeria had risen to about $800 million. […]
There seems to be no much to cheer in the aviation sector, as stakeholders call for reform of the industry. 2023 cannot be described as great year in the aviation industry because there has been no spectacular performance; rather, the downside of events threatens to drown the few achievements. It was the year that Nigerians […]
The International Air Transport Association (IATA) has projected that there will be increased profitability for airlines in 2023, which will then largely stabilize in 2024. However, IATA said net profitability at the global level is expected to be well below the cost of capital in both years and very significant regional variations in financial performance […]
