Gabon's LAG chartering in capacity pending certification

Abuja calls Nigeria Air mid-2Q23 debut despite legal woes

Nigeria's aviation minister, Hadi Sirika, has declared that Nigeria Air - the federal government's joint venture with Ethiopian Airlines - will launch before the end of May 2023, despite an ongoing legal challenge to stop its establishment.

Speaking at a National Aviation Stakeholders Forum 2023 in Abuja on March 23, he said negotiations continued with the preferred bidding consortium led by Ethiopian Airlines. The next step would be the Federal Executive Council's approval of the start-up's business plan.

"Operation of local and international flights will commence soon. Before the end of this administration, before May 29, we will fly," the minister stated.

This Day Newspaper reports Sirika said the national carrier project was 98% completed. He maintained Nigeria would benefit from the establishment of Nigeria Air through reduced capital flight, development of an aviation hub, and gain optimal benefits from bilateral air service agreements with other countries and the Single African Air Transport Market (SAATM) - the African Union project for a single market for air transport in Africa. "The national carrier will contribute to...

Air France-KLM repays half of €600mn Covid recap'n

Air France-KLM has repaid EUR300 million euros (USD325 million) of EUR600 million (USD650 million) in outstanding hybrid bonds held by the French state, marking a 75% redemption of the Covid-19 recapitalisation state aid it received.

In a statement, the group said it would refinance EUR320 million (USD347 million) through a new issuance of perpetual hybrid bonds to be issued by the French state, without any restrictions attached, as approved by the European Union's watchdog the European Commission on February 16, 2023.

The background to the Covid-19 state aid is as follows: In late May 2020, France granted a direct loan of EUR3 billion (USD3.25 billion) to Air France-KLM, which had suffered significant operating losses due to travel restrictions imposed by France and other countries following the outbreak of Covid-19.

In April 2021, the parties agreed to convert the loan into perpetual hybrid bonds as Covid recapitalisation aid to Air France and Air France-KLM. This was approved under state aid rules by the European Commission on condition that the French flag carrier give up some of...

Gabon's LAG to resume ops in late 3Q22

Gabon's LAG secures Twin Otter ahead of certification