Tinubu Approves 30% Discount on Airlines’ Debts to Aviation Agencies
President Bola Tinubu has approved a 30 percent reduction in debts owed by airlines to key aviation agencies in Nigeria, in a move aimed at easing financial pressure on the aviation sector.
The Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed this on Thursday during a briefing with journalists, noting that the approval was communicated while discussions were ongoing with airline operators.
According to him, the relief applies to outstanding charges owed to agencies such as the Federal Airports Authority of Nigeria (FAAN), the Nigerian Civil Aviation Authority (NCAA), and the Nigerian Airspace Management Agency (NAMA).
Keyamo explained that the measure is designed to help airlines manage accumulated obligations, including parking fees, navigational charges, and other operational costs that have strained the industry.
He said the intervention comes at a time when airlines are facing rising operational expenses, particularly due to the sharp increase in aviation fuel prices, which has pushed up the cost of flight operations nationwide.
Industry operators under the Airline Operators of Nigeria (AON) have previously warned that the rising costs could force higher airfares or even flight disruptions if urgent relief measures were not introduced.
The government’s latest approval is expected to provide some financial breathing space for airlines and stabilize operations within the aviation sector.
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