Travel

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Foreign Manufacturing/Industry Travel

Boeing would be biggest-ever US ‘fallen angel’ If cut to junk

Washington, Oct. 11, 2024 – If cut to junk status, Boeing Co. will be the biggest US corporate borrower to ever be stripped of its investment-grade ratings and join junk bond indexes, flooding the high-yield market with a record volume of new debt to absorb. On Tuesday, S&P Global Ratings said it’s considering downgrading the planemaker to junk as strikes at its manufacturing sites persist, hurting production. Last month, Moody’s Ratings said it’s considering a similar move. Fitch Ratings has highlighted the growing risks but not yet announced a review. …

Foreign General News Travel

Turkish Airlines pilot dies while flying plane from Seattle

New York, Oct. 9, 2024 – A Turkish Airlines flight made an emergency landing in New York early Wednesday after the captain lost consciousness midflight and died, an airline spokesman said in a statement. Yahya Ustun, senior vice president for media relations, said on X that Ilcehin Pehlivan, 59, did not respond to medical intervention onboard the Airbus 350 scheduled to fly from Seattle to Istanbul. There was a co-pilot in the cockpit. The flight was over northern Canada before it turned to the south, making a four-hour flight to New …

General News Travel

Return of Emirates has opened more opportunities for local airliners – Keyamo

Abuja, Oct. 3, 2024 – The return of Emirates to Nigeria will open more international destinations to local airliners. Festus Keyamo, the Minister of Aviation and Aerospace Development, said this on Wednesday after arriving in Lagos aboard an Emirates aircraft from UAE. He assured that the Emirates Airline had returned to stay in Nigeria after two years of absence. Emirates suspended its flight operations to Nigeria in November 2022 due to its failure to repatriate over $85 million revenue trapped in Nigeria.  Keyamo said the new Bilateral Air Service Agreement …

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TSF commends Nigeria’s aviation sector’s compliance improvements under Cape Town convention

Abuja, Sept. 25, 2024 – The Tinubu Stakeholders Forum (TSF) has commended the major achievements recorded by the Nigerian government in the aviation sector by boosting and repositioning it as a safe and reliable destination for aircraft leasing. This commendation follows the recent announcement by the Aviation Working Group (AWG) that Nigeria’s Cape Town Convention (CTC) compliance index score has increased from 49 per cent to 70.5 percent  In a statement signed by its Chairman, Ahmad Sajoh, and Secretary, Afolabi Josiah, the Forum praised the federal government’s dedication to aviation …

General News Travel

Nigeria signs MoU with Boeing on aircraft financing, airport management, safety

Abuja, Aug. 29, 2024 – Nigeria has signed a Memorandum of Understanding (MoU) with the aircraft manufacturers, Boeing, for aircraft financing and training among others. Festus Keyamo, the Minister of Aviation and Aerospace Management, disclosed this in a post on X on Thursday. He said the agreement was signed when he led a delegation of executives of major airlines in Nigeria under Airline Operators of Nigeria to Boeing company in Seattle, United States. “In Seattle, State of Washington in the USA, I led a delegation of the Executives of major …

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1- day Strike: Keyamo urges aviation workers to shelf planned action

Abuja, Aug. 16, 2024 – Festus Keyamo, the Minister of Aviation and Aerospace Development, on Friday appealed to labour unions in his ministry to shelf their planned industrial action. The unions had announced plans to go on one-day nationwide strike on Aug. 21 to protest against the continued deduction of 50 percent from the internally generated revenue of key aviation agencies. They argued that the agencies in the ministry are cost recovery, but not profitmaking agencies which cannot survive on half of their revenue. Responding to the threat, Keyamo urged …

Travel

FAAN grounds Arik Air over indebtedness

Abuja, July 30, 2024 – The Federal Airports Authority of Nigeria (FAAN) has grounded Arik Air aircraft due to debt issues between the airline and its creditors. It announced this on Tuesday, stressing that it was making efforts to work out plans to rebook and transfer passengers billed to travel on Arik Air to other airlines. Mrs Obiagelo Orah, the Director of Public Affairs and Consumer Protection in FAAN, issued a terse statement to inform the public that Arik Airline had been grounded due to litigation issues between the airline …

Travel

Nigeria has cleared 98% of foreign airlines’ funds  – IATA

Abuja, June 2, 2o24 – The International Air Transport Association (IATA) says Nigeria has cleared 98 percent of foreign airlines’ funds trapped in the country. Willie Walsh, Its Director-General, said this in a statement on Sunday and the commended the Federal Government for the gesture. .According to Walsh, as of June 2023, foreign airlines’ funds trapped in Nigeria amounted to 850 million dollars which significantly affected airline operations and finances in the country. He said the 98 per cent amounted to $831 million, while the remaining two per cent amounted …

Foreign General News Travel

One dead, several injured after Singapore Airlines flight makes emergency landing in Bangkok

Bangkok, May 21, 2024 – One person died and others injured during severe turbulence on a plane from London to Singapore – with passengers saying people were “launched into the ceiling”. Singapore Airlines flight SQ321 from Heathrow was forced to make an emergency landing in Bangkok. “We can confirm that there are injuries and one fatality on board the Boeing 777-300ER. There were a total of 211 passengers and 18 crew on board,” a statement said. “Singapore Airlines offers its deepest condolences to the family of the deceased.” The aircraft …

General News Travel

Disengaged staff of Dana Air protest non-payment of salaries, pension

Lagos, May 21, 2024 – Some disengaged Staff of Dana Air on Tuesday staged a protest to the payment of their two months’ salaries and contributory pension. The staff, who were sacked after the Nigeria Civil Aviation Authority (NCAA) grounded the airline’s operations due to an incident involving one of its aircraft, demanded immediate payment of their April and May salaries as well as their pension contributions. The former employees blocked the entrance to the company’s premises at Oshodi-Isolo expressway on Tuesday. They claimed that they received a “no service …