Africa to lose $37bn in GDP to troubled aviation sector

IATA: Global airline traffic to fall by 66% in 2020

4.5m jobs at risk due to COVID-19, travel restrictions _____________________________________ The African economy is set to lose an estimated sum of $37 billion to dwindling traffic and travel restrictions bedeviling the aviation sector of the region. The International Air Transport Association (IATA) warned that the damage being done to the African aviation industry and on economies by the shutdown of air traffic owing to the COVID-19 pandemic has deepened. According to new data published today (Thursday, October 1, 2020) by the Air Transport Action Group of which IATA is a…

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Local airlines besiege CBN for N27bn aviation bailout fund

Local airlines besiege CBN for N27bn aviation bailout fund

Local airlines in Nigeria have bombarded the Central Bank of Nigeria (CBN) with application for their own cut of the N27 billion aviation bailout fund proposed by the Federal Government. Report indicated that no fewer than 18 of the operating local airlines, including three commercial airlines – Dana Air, Max Air and Azman Air,  and some others whose operations have been grounded in the last two years, are on the list of applicants for the relief fund. However, Air Peace, Arik Air, Aero Contractors, Ibom Air, and Overland Airways were…

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Bickering over proposed intervention funds for airlines

NiMeT

BusinessMetricsNG with wire report The proposed federal government’s intervention fund for airlines is generating fuss in the aviation sector, Daily Trust’s investigations have revealed. Stakeholders are sharply divided over whether funds should be given directly or not to airlines following the impact of COVID-19 pandemic on airline operators. Some of them argued that N200 billion intervention fund given to airlines in 2012 was diverted. John Ojikutu Aviation analyst, Group Capt., (rtd) had suggested that monetary intervention should not be given to airlines but they can be supported with waiver on…

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NACCIMA proffers hints for revival in tourism sector

Tourism, Hospitality, Nigeria, Aviation

The Nigeria Association of Chamber of Commerce, Industry, Mines, and Agriculture (NACCIMA) has advanced some hints that can help economic comeback in the tourism, creativity and hospitality sector of the Nigerian economy. In achieving this, the group pledged to work with stakeholders to ensure positive impact of targeted stimulus package for various sectors of the economy. It made his position on the current state of the economy known at its Creativity, Hospitality and Tourism Trade Group’s meeting recently held in Lagos. NACCIMA urged the FG to urgently adopt measures to…

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Pioneering AI in the aviation industry

Pioneering AI in the aviation industry

Describing the numerous applications of AI at Frankfurt Airport, Alexander Laukenmann, Head of Airside and Terminal Management, Corporate Safety and Security at Fraport AG, demonstrates the breadth of benefits made available by this technology. EXERPTS: Today, air transportation is an indispensable part of modern life and required for economic prosperity in a globalised economy. Nevertheless, there are a lot of challenges facing the aviation industry. Competition is intensifying – between airlines, between airports and between aerospace manufacturers. Customer demands are becoming more challenging, with passengers asking for a better travel…

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