Chukwuerika Achum, the chief executive officer (CEO) of Falcon Aero Limited, says the current regulations in Africa are too stiff and not appropriate to drive investment into the continent’s business
Achum took the position at the recent launch of CharterXE and FlyPJX — technology platforms developed by his company to ease business jet booking and make access to the service more inclusive.when time is of the essenceIt is sometimes called corporate aviation and entails the use of any general aviation aircraft for business purposes.
Achum also said limited access to finance was putting a strain on the sector’s growth, as the aviation business requires a lot of capital. “We’ve had issues with double-digit interest rates. Aviation is capital intensive, it’s long-term-centric investments and traditionally, the investments have not matched the business models because a lot of the investments have been short-term double-digit interest rates, and they’re not really able to match the revenue space of the airlines. That’s why you have a very short lifespan of airlines in Nigeria,” Achum explained.
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