President of the National Association of Aircraft Pilots and Engineers (NAAPE), Engr. Balam David Isaac
said that the N1 billion bail-out of inadequacy of any airline.
He said: “We fully appreciate the effort of the Central Bank of Nigeria to package the sum N500 billion
bailout funds to support key areas of the Nigerian economy. But the N1 billion would be offered to each
of the airlines Nigeria property is clearly insufficient, given the realities of the financing of the aviation
industry in our country today.”
We are painting is nothing less than N200 billion of the bailout fund to be applied to improve the
aviation sector in Nigeria; David has argued that if the bailout funds for aviation is too small, nothing
tangible can be done with it, adding that it is preferable for the good of aviation, in particular, and the
overall economy, which allocate sufficient funds to support our airlines.
"Without adequate funding and support of aviation, other sectors of the economy will be affected and
detention of national development, he said.” If, for example, a plane owned by a Nigerian airline is
damaged, the company needs about N1 dollars to buy a new engine. Remember we are talking about a
plane, not a car. Remember also that N1 billion is 10 million dollars with the current exchange rate."
He called on the CBN and other stakeholders on the issue to urgently consider the need for adequate
funding of disbursements of aviation security. David said: Let me draw your attention to the success of
various Middle East countries like UAE, Saudi Arabia, Qatar, and even the small ones that have invested
heavily in the last two or three decades for their aviation sectors local quality standards worldwide.
These countries are very low compared to Nigeria with a population of more than $ 150 million. Today,
Dubai, one of the emirates that form the UAE, has the largest airport burden in the world.
"Once again, we must realize that about 60 percent of the populations of a country like the United
States fly commercial airlines. In Turkey, a country that also seeks to be among the first in the world
economy as 20, 40 percent of the population of birds. In Nigeria, less than eight percent of flight.
Therefore, opportunities abound for Nigerian aviation to grow rapidly in coming years, as the area is
treated with the seriousness it deserves." He advised the CBN to hire independent consultants and
professionals of aviation in Nigeria to help guide the necessary support for the overall implementation
of the sector.
For his part, President, Sabre Network Incorporation Nigeria, Gabriel Olowo, it is recommended that
N500 billion to finance CBN power production and air transport, which means that 3.3 billion U.S.
dollars, have set the new Asset Management Ltd. in Nigeria (AMCON). He said that currently the biggest
challenge of airlines in the country range from money to pay for aviation fuel also known as Jet-A1 and
wages, in particular,
"But these costs are all consumable and non-financial assets of the airline. If we agree to disburse funds
in excess of requirements," he asked.
How the fund is successful, the head of Sabre said: "I humbly suggest, therefore, that the fund is
established by the Asset Management Ltd in Nigeria that the acquisition of six ten brand new aircraft
(six national and regional operations and four intercontinental flights). AMCON then rent to deserving
Nigerian players costs. Lease cost to give a strong competitive advantage in the airline otherwise abuse
rates on the open market. The list would be better to increase the funds available."
He added that the contract could be simple and / or option to purchase. He argued that the era of
airlines to become more attractive airlines to cooperate. Years of I alone, die alone is far from us. We
must cooperate, merge and go global, said Olowo.
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