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            september 19, 2019

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Nigerian airports count financial losses


Despite an official declaration from the Nigeria Airspace Management Agency (NAMA) that Nigerian skies are open for business, and a few airlines were still flying, most national aviation was brought to a standstill by a general strike over fuel price subsidies, according to the Shipping Gazette. 
High Nigerian officials, returning from a mission in South Africa, found themselves stranded at Murtala Muhammed Airport, near Lagos, the major city of the country and the former capital, reported the National newspaper.
Airlines that are counting their losses included Aero Airlines, Air Nigeria, Chanchangi Airlines, IRS Airlines, Dana Air, Associated Aviation, Overland Airways and others, which on the average operate about 200 flights daily, amounting to hundreds of millions of naira for scheduled passenger and cargo operations.
Arik Air alone lost over hundreds of millions of naira, as it operates over 150 flights within Nigeria and the West African coast. Others that operate to the West African coast, including Air Nigeria, lost hundreds of millions of naira. Aero Airlines also lost substantial revenue accruing from domestic and regional flights.
Among the aviation agencies that lost revenue is the Federal Airports Authority of Nigeria (FAAN), which collectshundreds of millions from the operations of airlines in 22 airports across the country, as well as other operations from the concessions in cargo, access toll gate charges and other activities at airports across the country.
The Nigeria Civil Aviation Authority (NCAA) also lost significant revenue, which would have accrued from its five per cent statutory share of all tickets sold in Nigeria for both domestic and international operations.

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