Aviation
NAHCO Stands With IATA On Trapped Funds
A call has gone to the Federal Government to release the foreign airlines’ funds trapped at the Central Bank of Nigeria (CBN).
Board Chairman, Nigerian Aviation Handling Company Plc (NAHCO), Dr. Seinde Fadeni, made the call on Friday, in Lagos at the company’s 42nd Annual General Meeting (AGM).
He considered it equitable that those who laboured for their money should be allowed access to it.
In his view, the Federal Government “should speedily resolve the issue of funds belonging to the airlines. It is just fair that monies legitimately earned should be released to the operators who earn such funds.”
On the stand of NAHCO and why, Dr Fadeni said, “NAHCO stands with the airlines and calls on the Federal Government and the Central Bank of Nigeria to release these funds.
“This would give the government more credibility as well as increase foreign investors’ confidence in our nation.”
Recall that the global airlines’ body, International Air Transport Association (IATA), averred that as at April 2023, it members trapped funds in Nigeria stood at $802m.
Biztellers reports that the figure is about 50 percent of the total amount of airlines’ trapped fund in Africa which was $1.6Billion at the same period.
IATA while decrying the situation where Africa’s Central Bank vaults are laying siege on 66 percent of funds due to its members.
In addition, Dr Fadeni is of the opinion that government should be an enabler, providing the needed environment for legitimate businesses to thrive.
He said, “NAHCO shares in this hope as also expressed by majority of local and international businesses.
“We are poised to take advantage of business – enhancing policies of the in-coming administration.”
In another development, Group Managing Director/CEO, NAHCO, Indranil Gupta, revealed that the company achieved quite a number of milestones in the Year 2022 including the ISAGO recertification of its operations in Lagos, Kano and Abuja.
An Abuja-Accra flight experienced technical difficulties mid-air on Friday, forcing it to return to Abuja, shortly after departure.
The Nigerian Safety Investigation Board (NSIB) made the disclosure in a statement, adding that it has launched investigation into what it described as a serious accident.
Director, Public Affairs and Family Assistance, NSIB, Bimbo Olawumi Oladeji stated that preliminary investigations revealed the aircraft experienced an engine number two indication issue.
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It was gathered that the aircraft, with registration number 5NKAL which was operating a flight from the Nnamdi Azikiwe Airport, Abuja (DNAA), to Kotoka International Airport, Accra (DGAA).
She explained that four persons were onboard when the incident occurred. The crew immediately requested for a diversion back to Abuja due to the engine indication.
Oladeji added that the crew managed to safely land the aircraft at Abuja Airport at 18:16 UTC.
There were no injuries reported, and all individuals on board are safe.
Nigeria has acquired 12 pre-owned Alpha Jets from the French Air Force as part of efforts to enhance the operational capacity of the Nigerian Air Force (NAF).
The deal, facilitated through SOFEMA, a French military and aeronautics company, was announced by Olusegun Dada, Special Assistant to President Bola Tinubu on via X on Thursday.
He said, “All the 12 aircraft are ready for shipping.”
The Alpha Jet, a product of Franco-German collaboration, is a versatile military aircraft designed for light attack and advanced training missions.
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Equipped to carry bombs, rockets, and missiles, the aircraft also features a gun pod for close air support.
The NAF already operates 11 Alpha Jets, but this latest procurement signals a significant boost to its fleet.
Dada also confirmed that the Air Force is expecting 24 M-346FA light attack aircraft, ordered during the administration of former President Muhammadu Buhari.
The first batch of these Italian-made aircraft is expected to arrive early next year.
Air Chief Marshal Hasan Abubakar, the Chief of Air Staff, described the acquisitions as a testament to President Tinubu’s commitment to bolstering the armed forces.
“This renewal of our aircraft fleet reflects the government’s commitment to ensuring the safety and security of Nigerians,” Abubakar said.
The announcement comes on the heels of President Tinubu’s three-day state visit to France, where he met with French President Emmanuel Macron.
The visit, which took place from November 27 to November 30, highlighted deepening ties between the two nations.
To ensure the sustainability of its expanding fleet, the Air Force has proposed establishing a local maintenance hub.
Speaking in October, Abubakar noted that six units of the M-346FA aircraft were already in production, with the initial batch of three expected to be delivered in early 2025. The full fleet is projected to arrive by 2026.
“These developments underscore the importance of creating a domestic support system for the long-term upkeep of our aircraft,” Abubakar added.
As the holiday season draws near, Aero Contractors has introduced a minimum ticket price of N80,000 for all local flights.
The move, which will last until January 2024, aims to ease the financial burden on Nigerians amid the high cost of living.
Ado Sanusi, Managing Director of Aero Contractors, made the announcement on Tuesday during a press briefing, describing the fare reduction as a gesture to help Nigerians celebrate Christmas and the New Year without the stress of steep ticket prices.
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Sanusi said, “We understand the economic hardship Nigerians are facing, especially with high ticket prices, and we know the holiday season is nearby.
“In the spirit of Christmas, Aero Contractors has introduced what we call pocket-friendly Christmas prices. These fares, starting at N80,000, will apply to all our destinations, allowing Nigerians to travel without excessive costs.”
As of Tuesday afternoon, an economy class ticket from Lagos to Abuja was priced at N99,643, while business class tickets were being sold for N189,167.
Sanusi further explained that the initiative was designed to make it easier for families to reunite during the holidays.
“This is a way for us, as an organization with a long history of serving Nigerians, to give back to our loyal customers. We want to make it possible for families to meet their loved ones during this festive season without worrying about exorbitant travel costs,” he added.
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