Government Recommends Consolidation for Aviation Industry
Owing to the high costs of operation attributable to companies in the aviation industry, the Minister of Aviation, Stella Oduah has advised airline companies to take a serious look at mergers and acquisitions.
Speaking via her special assistant on Media in Lagos, Joe Obi, the minister said, “Airline consolidation is necessary. The airlines should consolidate with one and others and I want them to know that the era of trying to be chief executive officers with only one aircraft is since over. They should jettison this, but the government will never force these airlines to merge. However, we want them to take a second look at the option.”
The Minister also disclosed that the Government is in negotiations with commercial banks on the provision of single digit interest rate facilities for airline companies in order to assist them in staving off financial crisis.
She promised that the Federal Government would soon come up with a tangible visible and workable report for the industry.
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