Wednesday, April 25, 2012

‘FG Can Float National Airline With N985bn’


By NKEM OSUAGWU Leadership.ng

A group of aviation professionals has said that with N985 billion the Federal Government can realise its dream to establish a National Flag Carrier that will generate about 19,500 jobs at inception.
The group led by the Managing Director of AirGold Aviation,Mr Ifeanyi Okocha spoke to journalists at the Murtala Muhammed Airport Terminal 2(MMA2) Lagos, while contributing to the debate on the establishment of a national flag carrier for the country yesterday.
Okocha, an aeronautic engineer who has also worked in several airlines in the country, said his team of aviation professionals have carried out a feasibility study which they plan to submit to President Goodluck Jonathan, adding that his group would like to start the project but would need the Federal Government’s assistance  in realising the fund needed.
He explained that the government could oversee the implementation of the project through the Central Bank of Nigeria, Ministry of Aviation and Ministry of Finance, while the loan would be repaid after 10 years of operations, after which the proposed airline - ‘Nigeria Airlines’ will become a public quoted company at the Nigerian Stock Exchange.
He stressed that the airline would be successful because it would be managed professionally unlike the liquidated Nigeria Airways Limited (NAL) which was handled like a pubic service.
He hinted that as at the time NAL was liquidated, the national carrier had a functional aircraft maintenance department, which could have been converted to Maintenance Overhaul and Repair (MRO) facility.
He regretted that instead, it was closed down, thereby denying the Federal Government opportunity of generating revenue, while Nigerian airlines spend a lot of money taking their aircraft overseas for maintenance.

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