“But in the north, you will have to shut down Sokoto, Bauchi, Gombe, Minna, and Ilorin maybe, among others.”
Except the trio of the Murtala Muhammed International Airport , Lagos; Nnamdi Azikiwe International Airport , Abuja; and Port Harcourt International Airport , Rivers State, none of the other airports has sufficient revenue to cover the cost of operations alone.
FAAN owns and manages all the public airports in the country on behalf of the Federal Government. Among them are 20 that are directly owned by the Federal Government and four state-owned airports. The Kastina Airport managed to make a total of N250.8 million in generated revenue in three years, out of which only N42.1 million was collected. Its cost of operations was put at N1.58 billion, leaving a deficit balance of N1.54 billion.
The Benin airport in Edo State also ran at a loss. The airport generated a total of N993.2 million in three years and collected N930.1 million. The total cost of operations was put N2.02 billion, leaving a shortfall of N1.09 billion. The International Air Transport Association lately stated that for an airport to be viable and self-sustaining, it must have at least five million passengers a year. Today, only Lagos and Abuja airports could boast of at least five million passengers annually.
Aviation consultant and Chief Executive Officer of Beljune Konzult Limited, Chris Aligbe, said it was expedient for the Federal Government to keep supporting FAAN and other regulatory and service providers with grant, pending the time the airlines will return to pre-coronavirus capacity. “But in the north, you will have to shut down Sokoto, Bauchi, Gombe, Minna, and Ilorin maybe, among others. In the west, maybe Akure. Hence, it becomes highly political and more dangerous. So, for the length of time that it will take the airlines to bounce back, the agencies and the airports will have to keep running with the government’s support,” Aligbe said.
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