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Global Crisis Presents Plane Acquisition Opportunities for Nigerian Carriers

By on October 17, 2012

An Arik Aircraft in flight

There are indications that Malev Hungarian Airlines have offered its airplanes for sale to Arik Air, because of the present crisis in the global airline industry.

Investigations tell that, Arik Air has refused the offer because the Aircrafts are outdated and most of them up to 10 years. The Airline has offered two of its aircrafts for sale, Boeing 737 – 800.

It was learnt that, Arik Air rejected the offer primarily because the aircrafts offered for sale are different from the ones Arik uses, which means Arik will incur more maintenance cost if they buy them.

 

Malevolent Hungarian Airlines has about 22 aircrafts now, which are likely to feature in the liquidation exercise.

 

There are indications that besides Air Arik, some other Nigerian airlines are likely to purchase the airplanes through other carriers, whose primary business is acquiring crisis or liquidation bound airplanes and re- sale.

 

This is likely to happen since Nigerian carriers prefer to acquire used aircraft from foreign carriers because of excessive costs of getting new airplanes from aircraft manufacturers.

 

Besides, since Nigeria is one of the high-risk countries among aviation investors, it has become almost impossible for leasers to lease aircrafts to Nigerian carriers following the Dana crash and the collapse of Air Nigeria. This development is fuelled by high cost of lease rentals and insurance.