7 July 2017

Nigeria: Group Opposes Financial Bailout for Airlines

Lagos — The Secretary of Aviation Roundtable, Group Capt. John Ojikutu, has said it is high time Nigeria did away with single ownership of airlines.

He also disagreed with those advocating for financial bailout for domestic carriers, saying previous interventions to the airlines were mismanaged.

Ojikutu said, "If any business cannot sustain itself financially and otherwise then it should not be in business, period. Airlines in Nigeria want to be given public funds that will not be invested in the airlines.

"They claim that in US and other countries public funds are injected into critical private ventures to prevent failures that will have serious negative consequences on their economies. But what they conveniently forget to say is that these funds are utilized for the purposes intended with repayment conditions that are strictly adhered to." He blamed failures of over 20 airlines that had gone into extinction on deceit and dishonesty which, according to him, "is rampant in corporate governance".

The aviation expert explained that most American airlines that people cited as enjoying the financial intervention of the US government were not owned by individuals.

Nigeria

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