Business
Operator Hopes For Improved Airline Operations Through Afrexim Bank
An airline operator, Osita Okonkwo, has expressed optimism that operations in the aviation sector will be significantly enhanced if Afrexim Bank implements its pledge to provide financing for aircraft acquisition in Nigeria.
Okonkwo, who is the Chief Operating Officer of United Nigeria Airlines, while speaking to aviation correspondents on the impact of the proposed access to finance for acquisition of 25 aircraft for Nigerian airlines, expressed optimism that such will improve operations in the sector.
“If we get 25 aircraft, definitely routes will improve. It’s going to improve. It will be a game-changer. If the 25 aircrafts come to Nigeria, that will be a big difference. It will increase capacity, it will increase reliability, it will add more routes, and so on.
“Airlines that will be able to access that fund will be able to increase their capacity by buying more aircraft’s. More aircraft means my capacity has increased, which means I can expand my businesses”, he said.
Elaborating on the operational benefits, he explained that with additional aircraft’s, airlines could either introduce new routes or increase the frequency of flights on existing ones.
“If there are increased passenger numbers, invariably it means it will also impact revenue. Revenue to the agencies, revenue to the government, because the agencies represent the government. Increased revenue to the government means what? Increased GDP and better economy”, he remarked.
On January 16, 2025, it was reported that Afrexim Bank had pledged its support for aircraft financing for Nigerian airlines after a successful meeting at the Aviation Economic Conference in Dublin, Ireland.
The Special Adviser on Media and Communications to the Minister of Aviation and Aerospace Development, Tunde Moshood, stated this in a statement.
The statement was titled, ‘l”Afreximbank To Support Aircraft Financing for Nigerian Airlines Following Productive Side Meeting at Dublin Aviation Economic Conference”.
Corlins Walter