In light of the formidable obstacles confronting airlines in 2024, Dr. Richard Aisuebeogun underscores the imperative for robust government intervention.
Speaking at the 13th NIGAV Awards, Aisuebeogun stresses the need for consistent policies to sustain airline growth.
As co-Chairman of the NIGAV Award Committee, he advocates for special foreign exchange access and institutional funding for aviation which he asserts is low.
“The volatile nature of the market makes commercial bank funding challenging to access and equally unattractive due to the high cost of funds.
He suggests capitalizing the aviation leasing company and establishing a sector bank for industry financial stability.
“However, there is a need for the industry to consider several funding options for aviation projects by establishing a structured funding instrument like a sector bank that can guarantee the financial stability of the industry.” He suggests.
Government support through tax incentives, waivers, and consistent policies for aviation infrastructure development is recommended.
Aisuebeogun joins others in urging for aviation’s removal from TSA remittance to support industry growth and stability.
