Aircraft Shortage: Causes Behind Flight Cancellations

Nigeria’s High Airfares Linked to Aircraft Leasing Issues

Nigeria’s Minister of Aviation, Festus Keyamo, has identified the shortage of aircraft as the main cause of frequent flight cancellations and the surge in airfares across the country.

According to Keyamo, the cost of leasing aircraft is high, primarily due to the reliance on “wet leasing” arrangements, where operators rent planes along with their crew.

This issue is compounded by foreign companies’ reluctance to trust Nigerian airlines because of past difficulties in recovering aircraft if payment disputes arise.

To tackle these problems, the Nigerian government has taken steps to improve the aviation sector, including signing the Cape Town Convention.

This agreement facilitates easier access to aircraft through dry leases, which could help reduce costs for airlines and eventually lower ticket prices for passengers.