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.

The recent floating of naira has taken its toll on international airfares with ticket prices on several routes increasing by about 40 per cent, checks by Daily Trust have shown. From N665 last week, the exchange rate for international flight booking was pegged at N770 on Wednesday, triggering an increase in air fares.

An average six-hour international flight now goes for over N2m in line with the new exchange rate, which our correspondent learnt is now dependent on the Importers and Exporters (I&E) windows following the unification of the exchange rate system. Daily Trust reports that the Central Bank of Nigeria (CBN) has quashed the multiple exchange rate as part of the economic reform of the present administration.

The floating of the naira now implies that the exchange rate would now be determined by the market forces.

The recent floating of naira has taken its toll on international airfares with ticket prices on several routes increasing by about 40 per cent, checks by Daily Trust have shown. From N665 last week, the exchange rate for international flight booking was pegged at N770 on Wednesday, triggering an increase in air fares.

An average six-hour international flight now goes for over N2m in line with the new exchange rate, which our correspondent learnt is now dependent on the Importers and Exporters (I&E) windows following the unification of the exchange rate system. Daily Trust reports that the Central Bank of Nigeria (CBN) has quashed the multiple exchange rate as part of the economic reform of the present administration.

The floating of the naira now implies that the exchange rate would now be determined by the market forces.

Nigerians particularly those in the diaspora who formed the major bulk of air travellers coming from different parts of the world through the Murtala Muhamed International airport, Lagos have continued to express disappointment at the infrastructural decay adorning the number one gateway airport in the country. On a daily basis, as international flights arrive the airport, it has become a recurrent decimal to see many passengers  having landed safely at the airport use all manner of unprintable words to express how disgusting they are with the dilapidated infrastructures scattered all over the airport. For travellers flying into the Lagos airport from places like Europe, America or Middle East, the first horror awaiting them is the stench that oozes out of the old and unkempt toilets therein which do not befit the status of any international airport even at smaller airports in neighbouring countries. Apart from the stress you will be made to pass through in the hands of the immigration officials who may keep you standing on the queue for the same hours it takes you to fly for example from places like London to Lagos to have your passport stamped, more troubles await you in the hands of the other different uniform personnel whose major aim is to exploit you. 

The House of Representatives yesterday said the Nigeria Air Project was a fraud and demanded its immediate suspension. The lawmakers expressed thier displeasure at the way the former aviation minister Hadi Sirika handled the project. the house advised the Federal Ministry of aviation with its agency, the Nigerian Civil Aviation Authority to designate some Nigerian indigenous airlines as flag carriers to take advantage of Bilateral Air Services Agreement that Nigeria entered into, pending when a viable national carrier will come on board. Managing Director of NIgeira Airspace Management Agency, Mohammed oduwowo told lawmakers that the plane that was used for the unveiling was a chartered flight which returned to base two days later. he also said that the plane had Ethiopian registration and was chartered by Ethiopian Airlines to NAMA.