The Federal Government has expressed worry over the alarming rate of airline collapse in the country and has declared that it was ready to formulate policies that would lead to survival of carriers.
It noted that it would put in place policies and processes that will ensure survival and growth of domestic airlines.
The rate of airline extinction in Nigeria is quite alarming as many more airlines are at the verge of folding up as a result of harsh economic situation and multiple taxation, scarcity of foreign exchange and high costs of jet fuel have conspired to harm airlines in Nigeria.
It is estimated that over 50 airlines have closed shops in the last 20 years while many others are closed to kissing the industry a goodbye Vice President, Senator Kashim Shettima, gave the assurance at the Ministry of Aviation and Aerospace Development Conference on the Cape Town Convention and Aircraft Protocol Implementation, holding in Abuja.
The Shettima, who was represented by the Minister of Aviation and Aerospace Development, Mr Festus Keyamo, said the country had witnessed very high mortality rates of domestic airlines in the last 40 years.
He said: “It behooves on us now in office to find out why they went under and how we can ensure that it does not happen again.
“The only way we can do that is by policy, policy policy policy policy policy frameworks to ensure that they survive. We can’t keep giving them money, then we must make the business conducive environment for them to survive.”
