Index to Nigerian Newspapers

Nigeria's new local carriers face threats due to economic uncertainty, rising costs, shifting regulatory policies, and difficulty accessing foreign exchange. Many airline owners are adjusting their applications for Air Transport Licenses or Air Operators' Certificates with the Ministry of Aviation and Aerospace Development and the Nigerian Civil Aviation Authority (NCAA). The rising exchange rate and the NCAA's minimum aircraft requirement for start-up carriers are also causing concern. The aviation industry is filled with risks and uncertainties, and if the NCAA implements its six aircraft fleet policy, many existing operators may be out of business. With wet leasing off the way, some carriers may not have the financial muscle to acquire an aircraft for $10 million per piece.