The Digest:
President Bola Tinubu has approved a 30 percent discount on debts owed by domestic airlines to aviation agencies. Aviation Minister Festus Keyamo announced the debt cut on Thursday, saying it follows a message from Femi Gbajabiamila, Tinubu's chief of staff. The gesture comes amid rising aviation fuel costs, which have increased from N900 to over N3,300 per litre. The debts include parking charges to FAAN and navigational charges to NAMA.
Key Points:
- The Airline Operators of Nigeria had threatened to suspend operations on April 20.
- AON temporarily suspended the planned shutdown after appeals by the minister.
- Air Peace chairman, Onyema, called for the prosecution of fuel marketers over price hikes.
- Onyema had urged a "total waiver" of all debts owed by airlines.
- Keyamo said the government is considering further measures to cushion the impact.
The debt reduction aims to ease financial strain on domestic carriers struggling with fuel costs.
Sources: The Cable, Vanguard
