FG to guarantee 30 aircraft for airlines in the new bailout plan

ABUJA: The problem of insufficient capacity, particularly in terms of operational aircraft, may soon become a thing of the past for airlines operating in the country, as the Federal Government is almost concluding plans to guarantee a fleet of three aircraft each for about 10 airlines.

This is part of an intervention scheme for the aviation industry which is an ongoing process in sustaining the aviation industry.

According to the General Manager, Corporate Communications of Federal Airports Authority of Nigeria (FAAN), Yakubu Darti who spoke to newsmen on the proposed move said that the government have now decided to intervened in the problem facing the airlines by getting involved directly instead of giving physical cash as bailout to the airlines.

He said, what the government have now decided to do is to directly stand as guarantor for the purchase of aircraft and distribute for the airlines based on competence, technical ability and capacity of the airlines operating in the country.

Speaking further he stated that the criteria for the beneficiary airlines are the same adding that both existing airlines, collapsed ones and even new investors wishing to come into the industry are free to apply for the new bailout scheme.

Darti said this the government has done in order to get rid of the situation where by when airlines are giving direct cash to improve their fleet they end up diverting the funds to other sources.

The development he said would help existing airlines having problems to re-fleet without stress.

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