Domestic airlines in Nigeria lose at least N4.3 billion yearly due to daily 24 hours flight restrictions to various destinations of choice, Ibom Air Chief Operating Officer (COO) revealed Thursday.
Ibom Air Chief Operating Officer (COO), Mr George Uriesi, disclosed this while delivering a paper at the 26th annual conference organised by the League of Airport and Aviation Correspondents (LAAC) themed “Sunset Airports: Economic and Safety Implications,” which held Thursday in Lagos state.
Uriesi decried the negative impact of the restrictions on the growth of domestic carriers in the country, adding that an average of N4 million was being lost per flight, N12 million in every flight, N360 million in 90 flights which, if brought to a total, would sit at N4.3 billion annually on every flight lost due to the 24 hours flight restrictions.
He also noted that most of the local aircraft fleets were being underutilised as a result of the restriction, which was not in line with the global industry standards.
“This is due partly because of too many impediments in the operating environment that limit airline productivity. These include limited runway availability across the domestic network, multiple operational infrastructure deficiencies, poor organisation and many others,” he said.
The COO called on the federal government of Nigeria make airfield infrastructure a top priority, and also ensure that the necessary Instrument Landing System (ILS) and accompanying accessories for every airport are made available.
Mr Uriesi urged the government to “make current and approved master plans a regulatory requirement for every airport and illegalise non-adherence to the master plans by any organisation.”
“Establishing a local aircraft lessor /financing vehicle that would allow for the domiciling of aircraft payments in local currency would make a huge difference to the air transport sector in Nigeria,” he advised.