The Nigeria Civil Aviation Authority (NCAA) said it would sanction airlines and other aviation organisations that violated the Nigerian Civil Aviation Regulations (Nig. CARs) 2022 on insurance cover for their equipment. Aircraft insurance is compulsory for airlines and according to international regulation, any aircraft that is not fully covered by insurance will never be allowed to fly. A statement signed […]
The aviation industry makes huge forex demand and contributes significantly in pressuring the Naira, from aircraft insurance, foreign airlines revenue, aircraft maintenance, and importation of equipment. Every aviator will readily tell you that most aviation activities are denominated in foreign currency; that apart from manpower, aviation fuel, catering, overhead costs and related services, which are […]
The Chief Operating Officer and Accountable Manager of Dana Air, Obi Mbanuzuo has said that it is wrong for aircraft lessors and insurance companies to describe Nigeria as high risk environment and increase leasing costs and insurance premium for domestic carriers. Mbanuzuo told THISDAY in an exclusive interview that they use the term high risk […]
By Chinedu Eze Nigerian airlines have increasingly continued to pay the high insurance premium for aircraft insurance, THISDAY has learned. This is attributed to what is generally labeled country risk, which includes insecurity, government’s inconsistent policies in the aviation industry, which insurers dub lack of rule of law and what is referred to the as […]
