Director General, Nigeria Civil Aviation Authority, NCAA, Capt. Musa Nuhu says palliatives as support to the industry by the government may be in the form of grants and loans.
He said the loans would be long time loans with single digit for the entire aviation industry including the CAA.
Speaking at a virtual meeting of the Aviation Leadership CEO forum with the Topic: COVID-19, Civil Aviation Regulations in Africa organized by Tony Ukachukwu, Capt. Nuhu said it was not only the airlines who have lost money, government agencies have too since there had not be flight operations.
“It is not only the airlines that have lost money, it is the entire aviation ecosystem.”
According to him, 90% of the CAA revenue have been lost and currently using its reserve which was about to run out.
“90% of my source of funding the NCAA, we have lost over 90% of our revenue in the last 3 months or so, we are operating basically on our reserve we are about to run out.”
He emphasized that government was aware of their situation and was making frantic efforts to ensure the palliatives get to the industry soon, adding that the palliatives are coming and the minister would certainly make an announcement soon in this regard.
“It is going to be very low digit rate not only for the airlines, it is for the entire aviation ecosystem including even the taxi drivers at the airports, car hire, ground handlers including the aviation agencies, the civil aviation authority.”