The Chief Executive Officer of Nigeria’s major carrier, Mediew Airline, Alhaji Muneer Bankole has warned that if the value of the naira crashes further it would force airlines out of business and eventually kill the industry. Bankole said that the devalue of the local currency few years ago, when it spiraled down to almost […]
The International Air Transport Association (IATA) said the total amount of revenues owed to international carriers by some African countries have risen to N366 billion ($1.2 billion). This was disclosed by IATA’s Vice President for Africa, Raphale Kuuchi at the on-going aviation conference in Kigali, Rwandan capital. According to Reuters, out of the total amount, […]
Former Vice-Chairman of Arik Air, Senator Anietie Okon has alleged that some interests in government had planned to take over Arik Air and sell it cheaply to themselves but this was forestalled by Asset Management Corporation of Nigeria (AMCON), which is currently managing the airline. Senator Okon said the interest group took advantage of the […]
The low value of the naira has increased the cost of overseas aircraft maintenance to over N50 billion annually, Nigerian airline operators have said. They noted that the cost would have been higher if many of the airlines did not shut down their operations in the last five years. There are relatively fewer operating aircraft […]
In this report, Henry Osazuwa takes a critical look at the recent takeover of Arik Air by the Asset Management Corporation of Nigeria and the imperative for a viable financial market in Nigeria Arik Air is an indigenous airline in Nigeria with highest domestic flights, and fledging international air traffic. In 2016, the airline […]
