Business
Expert Projects 20-Year Plan For African Aviation Dev
An expert in the aviation industry, Asiri Uchendu, has projected that the African aviation industry, and indeed the Nigerian aviation, will need a 20-year development plan to be able to favourably compete with other developing economies.
He said that the effect of Covid-19 on the aviation industry in Africa had left negative imprints on the growing sector, as airlines in the region now battle for survival.
Uchendu, who is the Port Harcourt Station Manager of one of the aviation cargo handling companies in Rivers State, told The Tide in a chat at the Port Harcourt International Airport, Omagwa, that the Covid-19 pandemic brought a serious setback to the aviation sector in Nigeria and Africa as a whole.
According to him, many airline operators in the country are now faced with shortage of aircrafts as many of their aircrafts have been grounded due to closure of airports for many months.
He said that the issue of Maintenance, Repairs and Overhaul (MRO) was very critical in the operations of aircrafts, pointing out that Nigeria goes to developed countries like Europe and America for maintenance at a very high cost.
“Africa needs to procure 970 jets and 700 Turboprops over the next 20 years. To achieve this, at least over $150 billion is needed to finance the acquisition.
“African aviation needs fleet modernisation, much improved quality of service for the exponential growth, both in passenger volume.
“The fact is that Africa faces much higher cost for aircraft purchases due to relatively small size of most airlines. They possess weak balance sheet for corporate loans and lack of access to export credit agreements and high insurance costs.
“Commercial banks in the region are not able to provide long term financing, and when they do, such comes with high interest rate, and there is no aircraft leasing company in Africa like it is obtainable elsewhere”, he stated.
Uchendu, therefore, called for partnership among stakeholders in the industry, and for investors in the region, to take steps in addressing the setbacks, nothing that aviation industry is a huge employer of labour and also boosts the country’s GDP.
By: Corlins Walter
Business
NCDMB, Jake Riley Empower 250 Youths On Vocational Skills
Business
NUJ Partners RSIRS On New Tax Law Education
Transport
Nigeria Rates 7th For Visa Application To France —–Schengen Visa
-
Politics4 days agoPFN Rejects Call For INEC Chairman’s Removal Over Genocide Comments
-
Rivers4 days agoFasthire, PHCCIMA, CIPM Host CareerFest 2026 In PH
-
Sports4 days agoEnekwechi wins Orlen Cup in season opener
-
Politics4 days agoHoodlums Disrupt LP-ADC Defection Event In Lagos
-
Sports4 days agoSimba open Nwabali talks
-
Sports4 days agoFalconets, Senegalese Lionesses arrive Ibadan for qualifier
-
Politics4 days agoRemoval From INEC’s Portal, Abure-Led LP Faction Mulls Legal Action
-
Niger Delta4 days agoTinubu, Jonathan, Diri Pay Last Respect To Ewhrudjakpo
