Latest Aviation News

Direct flight to Gabon will boost trades with Nigeria

Gabonese Ambassador to Nigeria, Mr. Corentine Hervo-Akendengue, has hailed the decision of Arik Air to operate to the Central African nation, saying direct flight from Nigeria to Libreville would boost trade between the two countries.
He spoke at the inaugural flight of Libreville from Lagos en-route Port Harcourt at the weekend.

Angst over NCAA’s N150m boardroom refurbishment

  • Purchases 150 units of office chairs at N10m

In a bid to come out of its financial crisis, The Nigeria Civil Aviation Authority (NCAA) has put in place system to block leakages at the agency. The aviation regulatory body had been in financial crisis leading to its inability to train workers and send inspectors to oversight aircraft.

'Aero Contractors' Assets Were Overpriced'

The Asset Management Corporation of Nigeria (AMCON) may have lost about N25 billion for taking over the debts of Aero Contractors, one of Nigeria’s major airlines, according to sources familiar with the deal, who said the assets worth less than N4 billion, but were overpriced.

According to Thisday, investigations revealed that AMCON after paying the huge amount of money controlled only 40 per cent stakes while the Ibru family retained controlling share of 60 per cent until AMCON re-evaluated the sale and took over 90 per cent stakes.


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