A tangible sense of optimism now permeates the Nigerian aviation sector as indications suggest that domestic carriers may encounter fewer obstacles in acquiring additional aircraft. This positive development follows the Federal Government’s commitment to guaranteeing aircraft leasing companies the recovery of their assets in the event of defaults by Nigerian airlines.
Historically, while leading global carriers flourish through partnerships with lessors for aircraft acquisitions, Nigerian airlines have faced challenges. For over a decade, lessors worldwide have unofficially excluded Nigerian airlines from such opportunities, citing the country’s perceived lack of assistance in recovering assets from defaulting airlines.
However, during a meeting with Boeing Company officials, manufacturers of Boeing airplanes, and Aercap, the world’s largest aircraft leasing company, Minister of Aviation Festus Keyamo assured that going forward, Nigerian airlines would adhere to agreed-upon terms. The officials, led by the Chairman of Nigeria’s leading carrier, Air Peace, Dr. Allen Onyema, expressed willingness to offer dry lease opportunities to Nigerian carriers, contingent on certain conditions being met.
Keyamo emphasized the commitment of the Bola Tinubu administration to strengthen the capacity of indigenous Nigerian airlines for global competition. He reiterated the government’s resolve to guarantee the release of lessors’ assets from any defaulting Nigerian airline. Keyamo stated that enabling lessors to afford Nigerian airlines dry lease options aligns with the federal government’s plan to enhance the capacity of Nigerian airlines for effective competition in the international air transport market.
The Minister assured Boeing, Aercap, and other lessors that the government would safeguard their assets from defaulting Nigerian carriers, emphasizing that this marks a new era of a government dedicated to creating an enabling environment for Nigerian airlines.
Keyamo further emphasized the importance of lessors informing the government about the airlines they engage with to facilitate due diligence on the operator’s financial status and other vital records.
Air Peace Chairman and CEO, Allen Onyema, expressed gratitude to the Minister and the federal government for their commitment to supporting Nigerian carriers, heralding a positive revolution in the aviation industry.
On the international front, the Minister’s stance on Bilateral Air Service Agreements (BASA) received commendation from Onyema, who highlighted the Minister’s efforts during the International Civil Aviation Organisation Air Service Negotiation (ICAN2023) in Riyadh, Saudi Arabia.
In preparation for the upcoming Christmas and New Year holidays, the Federal Airports Authority of Nigeria (FAAN) assured passengers of prioritized comfort and security across airports. FAAN disclosed measures taken to upgrade security apparatus and expand screening areas, providing passengers with more space for a better flying experience.
FAAN Director, Abdullahi Yakubu-Funtua, urged passengers to guide their valuables during facilitation processes, park vehicles at designated car parks, and arrive at the airport in good time. The authority warned against engaging touts and emphasized its commitment to curbing extortion at airports.
In another development, Minister of Aviation Festus Keyamo disclosed that an additional N81 billion is needed to complete the second runway of the Nnamdi Azikiwe Airport in Abuja. Expressing concern over the risk of having a single runway for the capital city, Keyamo defended the ministry’s budget for the 2024 financial year before the National Assembly joint committee on aviation technology. He outlined critical projects, including the Abuja 2nd runway and the upgrade of the old terminal at Lagos airport, as vital for urgent attention.
According to the ministry’s spokesman, Odutayo Oluseyi, the 2023 budget performance stands at 40% based on the releases received. Keyamo appealed to lawmakers for the procurement of consultancy for the design of a master plan for major airports in Nigeria and emphasized the need to prioritize safety through equipment procurement. He also announced the President’s approval for the purchase of screening machines for the five international airports in Nigeria. headlinenews.news reports
