The Chairman of United Nigeria Airlines Company Limited, Prof. Obioro Okonkwo, has lamented the state of Nigeria’s aviation sector, News About Nigeria reports.
He disclosed his feelings concerning the happenings in the sector in an interview with Vanguard, stating that the aviation sector is seriously bleeding and that numerous battles are confronting it.
He noted that the number of aircraft has continued to decrease daily due to the challenges faced with foreign exchange, adding that the industry operates on the dollar and that much of the goods and services are transacted in the dollar.
“Aeroplanes are continuing to drop. I can tell you that about 40% has dropped and in the next one or two months it might get to 70% drop in the fleet. And it is not the fault of the aviators.
“Look, 99% of aviation is forex, and the currency of aviation is dollar. So, starting from those who are marketing JetA1 fuel, they bench-mark their cost in dollars, and all the spare parts you need are bought in dollars,” he stated.
The UNAC boss also noted that unlike cars, which are serviced regularly, maintaining aircraft is done by a calendar, and some services are done by cycle whether it is convenient or not.
According to him, in the aviation industry, things must be done as they should be done, because if procedures are not followed, the aircraft will be grounded. You’re doing all this with dollars.
He, however, lamented that dollars cannot be accessed, adding that 100% of the industry’s earnings on domestic flights are in naira, which is losing value.
