Farnborough airshow announces $192 bn in orders

 

 

 

 

England’s Farnborough airshow this week saw deals worth $192 billion (164 billion euros), a jump of more than 50 percent compared to 2016, in a sign of “confidence in global trade”, organisers said Saturday.
The biannual air industry gathering recorded more than 1,400 commercial aircraft orders, valued at $154 billion, alongside at least 1,432 deals for engines worth $21.96 billion.
The total is an increase of $67.5 billion on the last airshow two years ago, with the mile-high rivalry between Boeing and Airbus — who made the majority of plane orders — swelling sales.
US aviation giant Boeing announced 676 orders, totalling $92 billion at list prices, as of Thursday, while its European competitor had unveiled 431 orders worth $70 billion.
“The major deals announced this week demonstrate how confident the aerospace industry is and the role of Farnborough as an economic barometer,” said Farnborough International chief executive Gareth Rogers.
The show attracted its most global attendance ever with around 100 countries represented and a record Chinese presence, Farnborough said in a statement.
The show attracted its most global attendance ever with around 100 countries represented and a record Chinese presence, Farnborough said in a statement.
There was also a near-10 percent rise in trade visitors compared to previous years, with more than 80,000 visitors passing through the gates, it added.

Read more at: https://www.vanguardngr.com/2018/07/farnborough-airshow-announces-192-bn-in-orders/

Read more at: https://www.vanguardngr.com/2018/07/farnborough-airshow-announces-192-bn-in-orders/

Read more at: https://www.vanguardngr.com/2018/07/farnborough-airshow-announces-192-bn-in-orders/

Fed government unveils Nigeria Air as new national carrier, owns 5% equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Federal Government has unveiled the name of the new national carrier as Nigeria Air. The airline, set for take-off on December 24, is largely private investors-owned, with the government owning only five per cent equity.

Minister of State for Aviation, Hadi Sirika, at the unveiling of the name and logo at the ongoing Farnborough Airshow in London yesterday, said the airline would restore the country’s place in global aviation, covering no fewer than 81 local, regional and international routes.

Sirika, in the presence of prospective investors, airline manufacturers and strategic partners, said the national carrier would be strategic to growth of aviation sector, even as the Federal Government has decided not to interfere in the day-to-day running of the airline.

Nigerian National Carrier soon

 

 

Nigeria has commenced negotiation with aircraft manufacturers preparatory to the unveiling of a new national carrier, many years after Nigerian Airways was liquidated.

The Minister of State for Aviation, Sen. Hadi Sirika, said that the Federal Government was also negotiating with investors at the ongoing Farnborough International Air Show in the United Kingdom.

Mr James Odaudu, Deputy Director, Media and Public Affairs in the aviation ministry said in Farnborough on Monday that the Nigerian delegation which the minister led, had met with the Management of Airplane manufacturers Airbus to negotiate the acquisition of the desired aircraft for the nation.

Sirika also disclosed that negotiations with Boeing and other Original Equipment Manufacturers (OEMs) would take place on Tuesday.

According to the Minister, the ongoing International Air Show is an opportunity to negotiate with airline manufacturers with the view of getting the most competitive and best value-for-money deals for the country.

He said he would also explore every opportunity available at the air show, an event that brings the biggest and the best in the industry, to attract more prospective investors into the Nigerian aviation environment.

Sirika explained that the show would provide an opportunity to establish a Maintenance Repair and Overhaul (MRO) facility in Nigeria, concession of some airports in the country and other components of the Aviation Roadmap the federal government.

The minister had earlier tweeted: “Negotiating Aircraft orders with Airbus at Farnborough ahead of National Carrier unveiling on Wednesday.

“Negotiations with Boeing and other OEMs tomorrow.

“Met with Standard Chartered Bank earlier. All is looking good!”

The minister had on July 6, announced that the name and logo of the airline would be unveiled during the air show in the UK and assured that the airline would commence operations in December.

The government had explained that the perceived delay in the launch of the National Carrier of Nigeria was to avoid the mistake of the past.

Sirika, said that in a bid to avoid errors that led to the failure of the defunct Nigeria Airways, the national carrier would be private sector driven.

He said that stakeholders had agreed on a Public Private Partnership (PPP) arrangement for the new national carrier.

The minister explained the Federal Government was following Infrastructure Concession Regulatory Commission (ICRC) guidelines to ensure that due processes in the arrangement.

According to him, government has appointed the Transaction Advisers to work out modalities for the carrier.

He said that government intended to go into alliances or joint ventures with other aircraft manufacturers to increase the reach and number of routes of the national carrier.

Sirika added that the planned improvement of airport and air navigation infrastructure would support the expected growth from activities of the new carrier.

“The question of national carrier, we all have agreement that this national carrier can only survive and succeed if it is private sector led and driven.

“Public Private Partnerships (PPPs) in Nigeria are guided by act of parliament which is the ICRC Act 2007 that spelt out how to go about doing all these things.

“We will be following them diligently. But unfortunately, it is cumbersome but we are following it so that we don’t run afoul of the law.

“African Development Bank and other companies are discussing with us on this matter.

“We are yet to meet with other stakeholders but we expect to meet them during this conference and after then, we will go and do our road shows.

“The key thing here is having something that will stand the test of time so that we don’t start and falter.

“It has happened to Nigeria before. The Air Nigeria was founded and at some point, it died because of something that was faulty.

‘’We have learnt our lessons and we are not going to repeat it again,” he said.

Sirika admitted that one of the major challenges of air transportation in Africa was high taxes.

He said that the issue of high taxes would be discussed as a critical factor to encourage investors.

”The lower the tax, the more flights in and the more flights in, the more passengers, more jobs, more revenue and that is within our master plan.’

Aviation, Oil & Energy pools generate $750.98million premium income

 

The African Aviation and Oil and Energy pools have generated premium income of $750.98 million from January 1, 2017 to March 31, 2018. The pools are made up of 32 Nigerian insurance companies and 20 from 15 other African countries.

The other 15 countries are Algeria, Egypt, Ethiopia, Ghana, Kenya, Libya, Madagascar, Morocco, Senegal, Sudan, Tanzania, Tunisia, Zimbabwe, Togo and Eritrea.

According to their 2017 results, gross written premium for the Aviation pool for the period stood at $943,996, against $741,172 while claims paid was $730,648 against $1.48 million in 2016.

Profitability however dropped to $95,247 in 2017 as against $2.05 million in the previous year.

For the Oil and Energy pool, gross written premium stood at $27 million from $16.05 million in 2016, while profit stood at $722,183 in 2017 as against $47,882 in the previous year.

The African Insurance Organization (AIO) formed the African Oil and Energy as well as Aviation insurance pools to boost the capacity of the classes of business in order to deepen the African insurance market to take up large risks in the volatile business through capacity building.

The pools were incorporated on 20th June 1986 during the 13th General Assembly of the AIO held in Bujumbura, Burundi, for the purpose of sharing business and risks as well as creating capacity within Africa for insurance risks emanating from Africa.

 

Minister rallies airlines, travelers behind new ID card scheme

Minister of State for Aviation, Hadi Sirika,

 

Minister of State for Aviation, Hadi Sirika, has urged airlines and the travelling public to support travel agencies and the industry at large in the quest to rid the sector of illegal operators and fakery.

Sirika, at the launch of the Nigeria Travel Practitioners Identification Card (NTPIC), in Lagos on Tuesday, said the initiative was carefully designed to check perennial activities of fraudsters and other anomalies.

NTPIC is an industry-based mode of identification initiated by the National Association of Nigeria Travel Agencies (NANTA), in collaboration with Nigeria Civil Aviation Authority (NCAA).

Sirika, who was represented by the Director of Air Transport Regulation (DATR) in Nigerian Civil Aviation Authority (NCAA), Capt. Edem Oyo-Ita (rtd), noted that the Nigerian Civil Aviation Regulation 2006 mandates the NCAA to regulate, monitor and coordinate activities in the air travel sector, hence the importance of the new ID card scheme.

He said since NANTA made recommendations for the ID card initiative in 2017, a task force committee was set up to diligently review modalities, suggest appropriate date for the launch, sensitization of the public and make recommendations towards reducing fraudulent activities in line with the Federal Government’s zero tolerance for corruption.

He said: “It is the result of their recommendations that we are seeing today and the launch of the new ID card. The role of the travel agencies is not just to sell tickets but also to do it with all seriousness and professionally. NTPIC presents that right opportunity in the right direction to curb illegalities.

“We hope that airlines will soon restrict patronage to only travel practitioners that are on NTPIC data base. We also urge stakeholders and the public to embrace the procedure to enjoy great travel experience,” Sirika said.

President of NANTA, Bernard Bankole, reiterated that the idea of ID card was birthed from the need to sensitise and decontaminate the downstream sector of the aviation industry.

Bankole noted that the travel business in Nigeria has become one for all and sundry with absolute disregard for professionalism.

According to him, “The global nature of the business has been adulterated by fraudulent people who have little or no regard for the business and has thus become worrisome with the level of default to the airlines as well as passengers losing their hard earned money to duplicitous travel agents.