NewsExpress banner Firstbank Verve banner Fidelity bank card banner Umm Sulaim's Thoughts Camano banner

FG to float aircraft leasing company

By News Express on 09/04/2019

Gmail icon

Views: 430

• Hadi Sirika Minister of State for Aviation
• Hadi Sirika Minister of State for Aviation

Federal Government plans to float an aircraft leasing company to assist in the acquisition of new aircraft for local and international operations.

This comes even as the Federal Airports Authority of Nigeria (FAAN) says it has launched an investigation into the cause of a fire incident which destroyed a part of the terminal building of the Sam Mbakwe International Cargo Airport, Owerri, Imo State, on Monday.

The incident had created panic among passengers and airport workers forcing FAAN to shut down the Airport temporary with flights barred from landing and taking off at the airport.

Spokeswoman for FAAN, Mrs. Henrietta Yakubu who disclosed this to journalists in Lagos said no life was lost as the fire was swiftly curtailed by fire fighters.

Yakubu said the airport had been reopened for normal operations.

On the aircraft leasing company, the Federal Government said it was open to partnership from private firms to actualise the project.

Most airlines in Nigeria want to expand their fleets, but high financing costs and currency risks have hampered growth. Nigerian airlines’ revenues are in naira, while most of their costs are in U.S. dollars. The government said in a statement the new company would initially lease aircraft from international lessors and sub-lease them to domestic operators.

It wants the partner to be a consortium of international lessors, financial institutions and investors, and said bidders had until May 20 to show interest. The government will own a minority stake.

On Friday, Nigeria’s Medview Airline said it had been in talks with some financial institutions to raise capital and that a lack of infrastructure as well as dollar shortages were complicating its operating environment. (NAN)

Source News Express

Posted 09/04/2019 11:20:02 AM





You may also like...
Zimbabwe Army truck accidentally kills two cyclone survivors...

Landslide kills 2, injures 3 in Jigawa

Youth group berates NASS for dubbing Singapore’s #socialmediabill...

APC chairman shot dead in Rivers

DSS cracks down on bandits in Benue, Katsina,...

Chris Brown stuck in the Philippines, sends SOS...

Visa racketeer bags 6-year jail term

44-year old man slaughters three in-laws in Edo...

Last chance for World Cup shirts (or almost)...

OPC, others banned from polling stations in Osun...

UNAIDS Nigeria country director sent on leave over...

Face to face with Lion Mama: The woman...


Latest News Serving army officer in police net over alleged car theft Presidency orders probe of N40bn allegedly stolen at FIRS Gunmen pump ten bullets into actress Angela Okorie's head BREAKING: OAU loses second professor in 48 hours How to rescue Leah Sharibu, others - ACF Cultism: Mbaka warns politicians What to do before engaging house helps US expels two Chinese diplomats Teachers’ certification: No going back on December 31 deadline, FG insists Nigeria needs divine intervention – David Mark 4 killed in pilgrimage bus crash Emirate Council dismisses 2 District Heads for disloyalty in Kano State


Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (573,146 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (457,160 views) Shameless Genevieve Nnaji exposes breasts in public (407,199 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (341,900 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (308,428 views) 10 cars more expensive than Jets (293,220 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (261,630 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (260,918 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (242,336 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (228,745 views) Lagos plane crash: Journalist releases victims’ names (204,419 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (200,742 views)


CBN milk production

CBN banner advert

UBA Wise Savers Promo


Categories Advertorials (3) African Press Organisation (81) Art & Literature (112) Business & Economy (4,624) Business Verdict (89) Columnists (1,158) Complaints & Requests (98) Enterprise & Opportunities (221) Entertainment (719) Features (855) Global Business Monitor (499) ICT Monitor (73) International (4,328) Interview (220) Live Commentary (30) Love Matters (179) Maggie's Blog (520) News (55,313) Opinion (1,441) Pidgin (18) Politics (11,895) Religion (1,133) Sports (2,257) Stock Watch (41) AMA & Al Jazeera Global Update







APO Group Partner




GOCOP Accredited Member

GOCOP Accredited member



Africa Media Agency and Al Jazeera