Wednesday , 8 February 2023
Aircraft belonging to some extinct domestic airlines

Airlines’ N15billion debt breakdown revealed!!!

NIGERIAN FLIGHT DECK  has unearthed a copy of the debt profile of airlines showing that total debt of airlines operating in the country stands at N14,731,838,064.59 approximately N15 billion for the month of December 2016 alone.

The thirteen airlines, according to the documents shows that most of the airlines are operating while others are currently not in  operation but have shown desire and interest to return to the skies.

The comprehensive breakdown shows that  a monthly average of N301,835,785.88 is supposed to be remitted to the Civil Aviation Authority monthly, which does not get to the agencies coffers

Arik Air as at December 2016 had an unremitted amount  of  N9,460,745,429.96 accrued as debt of which they were supposed to remit a monthly N`61, 477,779.69, Aero Contractors has unremitted TSC/CSC to the amount of N389,839,503.42 during the same time.

Medview Airlines has a monthly average TSC/CSC of N30,000,000.00 and according to the document is yet to remit N1,037,629,402.23, Air Peace is also to remit N109,862,633.84 monthly and is currently indebted to the tune of N309,484,328.92 while Dana Airline has a monthly remittance of N57,500,000.00 and has N1,241,951,184.28 unremitted.

First Nation Airways  has a monthly remittance to the NCAA of N8,370,066.00 but is yet to remit N421,444,960.13, while overland has N12,311,189.43 to remit and has N19,436,520.83 unremitted, Azman Air has a monthly TSC/CSC of N20,000,000.00 but has N             321,729,901.04 as unremitted debts to the NCAA.

Other airlines who are indebted to the NCAA and are yet to remit are Chanchangi with a debt profile of N442,148,618.52, IRS with a debt profile of N1,054,403,662.52,Discovery Air             N28,339,864.19, African World  2,314,116.94       1,204,503.55 and Cronos Air N3,480,185.00 all thirteen airlines totaling N14,731,838,064.59.

 

 

About NigerianFlightDeck

Nigerianflightdeck is an online news and magazine platform reporting business stories with a bias for aviation and travel. It is borne out of the intention to inform, educate as well as alter perceptions with balanced reportage.

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