The Vice Chairman of the Airline Operators of Nigeria (AON) and Chairman of Air Peace, Allen Onyema, has warned that several domestic airlines could cease operations within the next 30 days unless the Federal Government urgently intervenes in the challenges confronting the aviation industry.
Mr Onyema said the industry is facing an existential crisis driven by high operating costs and multiple financial obligations.
He spoke on Wednesday in Lagos at the launch of Pathways, Pilgrimage & Destiny: The Biography of Alhaji Muneer Bankole, the biography of the founder of Med-View Airline.
“Going into aviation is not a piece of cake. It is an industry that is not very rewarding. It is capital-intensive, yet less rewarding. Today, we are facing a phase that poses existential threats. Except something drastic is done very quickly within the next 30 days, a lot of airlines might go extinct,” Mr Onyema said.
His warning comes amid renewed concerns among Nigerian airline operators over the cost of aviation fuel, multiple regulatory charges, access to financing and the financial obligations imposed on carriers.
