Aviation
Trapped funds: Nigeria disburses $61.6bn to foreign airlines
Trapped funds: Nigeria disburses $61.6bn to foreign airlines
Nigeria has paid $61.64 million to foreign airlines through various deposit money banks (DMBs) as part of their funds from tickets trapped in the country.
The Central Bank of Nigeria (CBN) disclosed this through its Acting Director of Corporate Communications Department, Mrs Hakama Sidi Ali, on Sunday.
Ali said in the past three months, the CBN redeemed outstanding forward liabilities of almost $2 billion.
She said the disbursement was in fulfilment of the regulator’s commitment to eliminate the backlog of pending matured foreign exchange (FX) in banks.
“In fulfilment of its commitment to eliminate the backlog of pending matured foreign exchange in Deposit Money Banks (DMBs), the Central Bank of Nigeria (CBN) has recently disbursed approximately US $61.64 million to foreign airlines through various banks,” Ali said.
“This initiative is part of the CBN’s efforts to decrease its remaining liability to the airlines.
“This underscores the CBN’s commitment to the resolution of pending obligations and a functional foreign exchange market.
“It is anticipated that this initiative would provide a considerable boost to the Naira against other major world currencies and further increase investor confidence in the Nigerian economy.”
Foreign airlines have struggled to repatriate their revenues since July 2022 when the total amount hit $464 million.
In attempts to recover the funds, Emirates Airlines suspended flight operations to Nigeria in November 2022.
British Airways (BA) also closed its inventory to Nigeria in the global distribution system (GDS) — an act that prevented local travel agencies from making bookings from their portals.
Following several meetings by the authorities aimed at addressing the impasse, the CBN released the sum of $265 million to foreign airlines operating in the country to settle outstanding ticket sales.
The International Air Transport Association (IATA) said foreign airlines’ revenue blocked from repatriation by the Nigerian government increased to $743 million from $662 million in January 2023.
IATA said the figure increased to $2.27 billion in April 2023, making Nigeria the highest debtor to the foreign airlines.
Aviation
Disaster averted as bird strike hits Abuja-Lagos Air Peace flight
Disaster averted as bird strike hits Abuja-Lagos Air Peace flight
An Abuja-Lagos flight was on Thursday aborted following a bird strike on the airplane belonging to Air Peace, forcing the authorities to ground the aircraft.
The bird strike experienced in the early hours reportedly prompted a ramp return to ensure the safety of passengers onboard.
All the passengers quickly disembarked and were calmed down before they were moved into another plane for the one-hour journey.
A bird strike is a collision between a bird and an aircraft, or other airborne animal, while the aircraft is in flight, taking off, or landing. And it can be a significant threat to aircraft safety.
Air Peace in a statement by its Head of Corporate Communications, Ejike Ndiulo, said the bird strike occurred at 6:30am, and all passengers disembarked normally.
The statement read, “We wish to inform our esteemed passengers that our Abuja- Lagos 06:30 flight experienced a bird strike before take-off, prompting a ramp return as a safety measure. All passengers disembarked normally.
“We have deployed a replacement aircraft for the affected flight in order to minimize disruptions, thus ensuring that passengers continue their journeys promptly.
“We appeal for the understanding of our valued passengers impacted by this development, as well as those on other flights that may experience delays.
“At Air Peace, we are committed to providing safe, comfortable, and reliable air travel for all our passengers.”
Aviation
Black box of crashed helicopter in P’Harcourt found, two passengers still missing
Black box of crashed helicopter in P’Harcourt found, two passengers still missing
A flight data recorder otherwise called back box of the helicopter that crashed in Rivers State two weeks ago has been recovered.
The Nigerian Safety Investigation Bureau (NSIB) confirmed this in a statement.
The helicopter operated by East Wind Aviation and hired by the Nigerian National Petroleum Company (NNPC) Limited crashed on October 24 while travelling from the Nigerian Air Force (NAF) base in Port Harcourt.
The aircraft, carrying six passengers and two crew members, went down in the Atlantic Ocean near Bonny Finima, off the coast of Calabar, around 11:22am.
A week later, the NSIB reported that a fifth body was recovered from the site of the crash.
In a statement on Friday, Bimbo Oladeji, NSIB director, public affairs and consumer protection, confirmed that the flight data recorder (FDR) and cockpit voice recorder (CVR), the black box, were retrieved from the site.
Oladeji said the bureau, in collaboration with Nigerian Maritime Administration and Safety Agency (NIMASA), and other search and recovery partners, coordinated efforts with both local and international teams to locate and retrieve the bodies of the deceased and essential components necessary for a full investigation.
“The FDR and CVR, commonly referred to as the aircraft’s ‘black box,’ was retrieved early this morning,” Oladeji said.
Aviation
Air crash averted as Australian plane suffers engine failure
Air crash averted as Australian plane suffers engine failure
A major air crash was averted on Friday after an Australian passenger plane suffered an engine failure.
The plane departing from Sydney, Australia, had experienced engine failure, causing the aircraft to circle before making a safe emergency landing, according to a post by Qantas on X.
Another report from Sydney Airport said a grass fire also ignited along one side of the runway but it was unclear whether the two incidents were related.
The fire had since reportedly been contained, though some flight delays were experienced.
Qantas did not disclose the number of passengers on board the twin-engine Boeing 737-800, which was bound for Brisbane, when the engine failed with a loud bang.
It also said there were no injuries from the incident.
“We understand this would have been a distressing experience for customers, and we will be contacting all customers this afternoon to provide support,” stated Qantas Chief Pilot, Captain Richard Tobiano.
“We will also be conducting an investigation into the cause of the engine issue.”
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