AIRCRAFT LEASING (in particular, DRY LEASING) is ONE factor that will help boost the business of local operators in our Airline industry. No airline company in the world or even any Government for that matter can afford to purchase its fleet of aircrafts one hundred percent. The biggest airlines in the world depend on DRY LEASING in particular. One other factor, amongst others, is the establishment of Maintenance, Repair and Overhaul (MRO) facilities within the country. We are currently wooing investors in this regard.
Should Government completely abandon local operators to fend for themselves? What can Government do to help in this regard? It is simple: Government should provide the enabling environment for these businesses to thrive by providing the assurances to Aircraft manufacturers and leasing companies around the world that their aircrafts are safe within the country if they lease them to our businesses here; that includes assurances and guarantees that these creditors can secure their assets anytime there is a default. This is in line with the CAPE TOWN CONVENTION to which Nigeria is a signatory. It is our duty as Government to provide this comfort and assurance to the potential lessors. We are currently on top of that and the package would be revealed soon. The lack of this is ONE big factor that has led to the high mortality rate of airlines in Nigeria in the last 40+ years. There are other factors too.
SOME so-called Aviation ‘experts’ who have failed to do anything over the years to help revive the industry are suddenly pontificating (as they have always done) as if they hold some ‘magic wand’ to turn the industry around, when in fact we know they are speaking for some interests who think the Aviation industry in Nigeria is their birthright. I CHALLENGE THEM TO A PUBLIC DEBATE on this.
We are determined to go far and near to woo Aircraft Leasing Companies and Aircraft Manufacturers to come to our aid. There is no shame in doing this now since we lack capacity to produce our own aircrafts or to purchase them. SO, PLEASE EXPECT MORE VIDEOS OF US INTRODUCING AIRCRAFT MANUFACTURERS AND THEIR PRODUCTS TO NIGERIANS AS WE CONTINUE OUR DRIVE TO WOO THEM TO INVEST IN OUR NIGERIAN BUSINESSES.
FESTUS KEYAMO, SAN, CON, FCIArb (UK)
Hon. Minister of Aviation and Aerospace Development, Federal Republic of Nigeria