Operator Looks For Specialized Finance For The Aviation Industry

Chairman United Nigeria Airlines (UNA), Prof. Obiora Okonkwo, has rallied the Federal Government behind a special financing window for the aviation industry out of concern for the condition of airline operators under tough economic realities.

At a retreat yesterday to celebrate the airline’s second anniversary, Okonkwo argued that the industry is too important for economic recovery to be left to its own devices. His demand is similar to earlier requests made by the Airline Operators of Nigeria (AON), which sought special intervention funds in the face of a foreign exchange liquidity crisis and a spike in aviation fuel prices, among other factors whose cost implications could not be fully passed on to consumers.

Okonkwo said that given the industry’s vital responsibility and expanding contribution to GDP, specific assistance for operators became required (GDP). “We are just asking for a specific financing window of low-interest and readily available money,” he stated. Although more has to be done, we still think this administration has done a lot for the aviation sector. We believe that ensuring the operators’ survival will be the government’s greater contribution to the aviation sector. No operator should fail; instead, let new operators enter the aviation industry, he stated.

Okonkwo continued by saying that the domestic airline owners have been very patriotic, making significant contributions to the rise of the country’s GDP.

And if aviation is effectively used, it will be a fantastic source of foreign currency for the nation, particularly if local operators could be given more control. We think that this sector continues to be crucial and important, and that it should be addressed as such.

“However, at the current commercial prices, this sector cannot continue to exist. We are aware that some industries, including agriculture, are granted favors. “Aviation should also be taken into account,” he remarked.