Ailing Economy Hampering Domestic Airlines’ Ability to Acquire New Fleet – THISDAYLIVE

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Chinedu Eze

The Managing Director and CEO of Aero Contractors, Captain Ado Sanusi, has stated that Nigerian airlines are struggling to break even because of their inability to acquire new fleet due to the country’s ailing economy.

Sanusi who made this known in a chat with newsmen in Lagos, said the lack of stability in Nigeria’s financial system as it relates to foreign exchange, is threatening the existence of the airlines, which are presently struggling to survive, insisting that if the current fiscal uncertainty continues, domestic airline operation will seriously be impaired.

He said the volatility of the economy and the blacklisting of Nigeria airlines by lessors have led to a situation where airlines are losing their aircraft to AOG (Aircraft on Ground), adding that they cannot replenish with new fleet because of the economic challenge Nigeria is facing currently.

Sanusi explained that lessors have not published that they blacklisted…



Source: Thisday Newspaper