Firms who lease airplanes, International aircraft lessors, have blacklisted no fewer than 13 Nigerian airlines for various contract defaults.
This was contained in a report on Wednesday, reported by BusinessDay.
According to the report, the blacklisted domestic airlines are: Aero, Air Peace, Arik, Azman, Dana, Green Africa and Ibom Air. Others are Max Air, NG Eagle, Overland, Reno Air, United Nigeria Airline and Value Jet.
The report stated that the lessors blacklisted the Nigerian airlines over their refusal to pay lessor fees. Which is contrary to the terms of their contract.
“Also, the airlines were blacklisted on the ground that they took international lessors to court. They also refused to return their airplanes on demand after breaching the payment terms.
“The contract between domestic airlines and lessors stipulates that the latter can demand the return of their aircraft in cases of payment refusal.
The lessors who have blacklisted Nigerian airlines include Planesense, Jetcraft, AerCap, Air Lease Corporation, Avolon, among others.
According to the report, the development has since impacted the operations of local carriers. And has made it difficult for them to compete favorably with foreign airlines on international routes.
As a result, only a few Nigerian airlines can secure wet-leased aircraft. This is against dry-lease aircraft contracts which are more profitable for the airlines.
The Managing Director of Anambra International Cargo and Passenger Airport, Emeka Nwafor, commented on the development.
He said, “Apart from foreign exchange problems, there is also the blacklist problem that airlines are facing with aircraft lessors.
“Some people ordinarily would want to invest in the industry. But because of the behavior of some other people in the past, they won’t.”
source: Daily Post
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