Festus Keyamo, the Minister of Aviation and Aerospace Development, has stated that the aviation industry suffers from a high mortality rate, leading to the closure of over 100 airlines in the past 40 years.
He made this announcement during the 10th anniversary celebration of Air Peace, West Africa’s largest airline and Nigeria’s flag carrier, held in Lagos on Saturday.
Read Also:NLC slams IMF for fuel subsidy removal denial
Despite this grim statistic, the minister assured that the current administration is committed to putting an end to the frequent failures of airlines.
He said, “I am excited to be here today for two reasons. First is that Air Peace has survived for 10 years and keeps thriving.
If you look at the history of airlines in Nigeria, you will discover that it is difficult for them to survive 10 years and still look healthy. We have a history of great mortality of airlines.
“More than a hundred airlines have gone in the last 40 years and I know you all remember. From Concord to Zenith to Bellview, among others.
You will then ask yourself why they die off, I can keep mentioning them because I have their list with me.
“So when we came to office we said there must be something responsible for this high mortality rate and now we have Air Peace looking strong and has continued to be on the rise and not on the decline.”
Keyamo noted that the “situation is worrisome. Let me tell you why it is a thing of worry.
A recent study by Boeing says that Nigeria accounts for 80 per cent of domestic travel in the whole of Africa. Not West Africa, not Central Africa, but the whole of Africa.
“The busiest route in the whole of Africa is the Lagos-Abuja route; that is, in the entire Africa.
I think it is followed by Johannesburg-Cape Town. But Nigeria is number one in terms of domestic travel.
“We have the population, we have the traffic, we have the people. So it is surprising that if we have this traffic, why are the airlines not surviving? Ask yourself. Why are they not surviving? And together, since we assumed office I have sat down with operators to solve this problem and I listen to them.”
Keyamo said it has become reassuring that the 10-year-old Nigerian carrier, Air Peace, has defied the high mortality phenomenon, which happens to airlines with their first five to 10 years of operation, “indicating that it will be a great carrier of the future.”
Allen Onyema, the Chairman of Air Peace, stated that the airline was born out of thoughtful consideration and a strong desire to make a positive impact on the country by generating jobs for the vast number of Nigerian youths, rather than being primarily focused on profit-making.
“Air Peace is a product of deep thinking and a desire to make a far-reaching impact in a country I love deeply. Like most businesses, profit is an important motive; however, with Air Peace, profit was not the primary driving force behind its establishment,” he stated.
