“We also read the bailout thing in the media. If it is meant for the aviation sector, the ministry will know about it and its processes would have started. But as of now, there is nothing like that.” BailoutFunds AviationSector LocalAirlines
The fate of the beleaguered operators is not helped by the Federal Government’s alleged withdrawal of N27 billion bailout funds that was earlier pledged to the industry.
Though some of the airlines had submitted request for funds, the operators had yet to get any feedback. Sources at the Ministry of Aviation also said they were not aware of any bailout. Chief Operating Officer of one of the airlines said operations were like a “pressure cooker” since commercial flights resumed, citing poor revenue inflow.
Air Peace has the largest fleet and accounts for about 40 per cent passenger traffic in aviation sector. Its Chairman, Allen Onyema, in a memo, noted that the prevailing “unfavourable” circumstance warranted the pay cut, which would last for 90 days in the first instance. The union stated that, “the slave-camp regime at Arik whereby one person is being compelled to perform the function of five or more persons has to end immediately. This is especially so as more workers are at home on forced leave.”
The airline last year quit operations when all its aircraft went out of service. Med-View, which is one of the firms that failed to file its financial statements to the Nigerian Stock Exchange , said it resolved to sell its B737-400 5NMAA aeroplane in Estonia and the B737-400 5NMAA aircraft in Lagos.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FG sets up c’ttee on loss of food in transitThe Federal Government has set up a tripartite committee to find a lasting solution to series of losses farmers incur during road crashes when transporting farm produce from across the country. Read more:
Read more »
FG moves to reduce herbicide, pesticide costsIn an attempt to address the high cost of herbicides, the federal government says it would soon commence local production of copper sulfate, primarily used for herbicides, fungicides and pesticides…
Read more »
Students protest, give FG 14-day ultimatum to reopen tertiary institutionsStudents under the umbrella of the National Association of Polytechnic (NAPS) on Saturday protested against the continued closure of tertiary institutions in the country. The students said decisive…
Read more »
Students protest, give FG 14-day ultimatum to reopen schoolsStudents under the umbrella of the National Association of Polytechnic (NAPS) on Saturday protested against the continued closure of tertiary institutions in the country. The students said decisive…
Read more »
FG evacuates 212 stranded Nigerians from Egypt|h4 style=
Read more »
FG Working Hard To Bring Back Girls From Lebanon – NAPTIP DGFG Working Hard To Bring Back Girls From Lebanon – NAPTIP DG
Read more »