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COVID-19: More local airlines suspend flight operations

Domestic airline operators have temporarily suspended all scheduled flight operations as part of the measure to help curtail the spread of Coronavirus.

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COVID-19: Arik Air suspends flights to West Coast, COVID-19: Arik Air. Aero, Dana, others suspend flight operations, Arik Air to resume flights on July 8 as FG lifts ban on air travel

More domestic airline operators have temporarily suspended all scheduled flight operations as part of the measure to help curtail the spread of Coronavirus.

The suspension is coming some days after the Nigerian Civil Aviation Authority (NCAA) announced the closure of all international airports in the country as a precautionary measure.

Aero Contractors to begin flight operations to Benin

The airlines involved include Arik Air, Aero Contractors, Air Peace, Dana Air and two others.

Arik Air announced that it would suspend all scheduled commercial flight operations with effect from 11 pm on Friday, March 27, 2020.

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[READ MORE: Coronavirus: Screen all passengers, no matter their status, FG to airlines)

This was announced in a statement released by the airline’s Chief Executive Officer (CEO), Captain Roy Ilegbodu. The airline’s boss said that the decision was taken to reduce the risk of the spread of the Coronavirus (COVID-19) amongst its customers and staff.

The airline also noted that customers, who have confirmed tickets can still use their tickets when operations resume, just as it pointed out that it hoped to resume operations as soon as the situation gets better.

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The CEO stated in the statement that, “Such tickets can be modified at no extra charge,” 

“We regret any inconveniences this may have caused you.

“Your safety and well-being is paramount at this period of health emergency. We implore everyone to keep safe and abide by all directives issued by governmental authorities.

Dana Air

Also, Dana Air announced that it was suspending flight operations from Wednesday, March 25, 2020, for 2 weeks.

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In a statement released, the airline said, ’’In line with the precautionary measures by the Lagos State government to stem the spread of the COVID-19, kindly note that all our flight operations will be suspended effective Wednesday, the 25th of March for two weeks,”

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In the same vein, Aero Contractors has announced that with effect from Thursday, March 26, 2020, it would suspend flight operations for 14 days in line with the exigencies of the Coronavirus disease.

[READ ALSO: Coronavirus: Airline Operators of Nigeria demand restrictions on travellers)

The airline expressed regrets over any inconveniences caused to its customers as the safety of passengers and staff remain their focus.

Air peace had earlier announced the suspension of flight operations.  The company, in its statement, said that it would suspend its operations with effect from Friday, March 27, 2020. The airline noted that the suspension was done in the best interest of the nation, passengers and the entire workforce.

Part of the statement from the airline says:This difficult decision was reached in order to support the efforts of the Federal Government and other stakeholders in curbing the spread of this virus in our nation, while also protecting our esteemed passengers and staff from becoming victims of the pandemic.”

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Chike Olisah is a graduate of accountancy with over 15 years working experience in the financial service sector. He has worked in research and marketing departments of three top commercial banks. Chike is a senior member of the Nairametrics Editorial Team. You may contact him via his email- [email protected]

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Hospitality & Travel

#EndSARS: NCAA denies alleged shut down of airspace, as Turkish Airlines takes off tonight

FAAN has reportedly shut down the air space of the nation due to alleged unrest in the country.

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Murtala Muhammed Airport (MMA), FAAN recruitment, FAAN in recruitment scandal as politicians takeover, Federal Airports Authority of Nigeria, 2019: Lagos airport records growth in passenger, aircraft and cargo movement  

The Nigerian Civil Aviation Authority (NCAA) has denied the alledged shut of the nation’s airspace due to the unrest, arising from the hijacked #EndSARS protests in Lagos, Abuja, and some other states in the country.

Though, the authority has not issued an official statement on the development, a source in the apex regulatory body told Nairametrics that the airspace remains open in Lagos and Abuja.

He said, “It is not true that the airspace is shut as rumoured on some social media platforms. Turkish Airline is attending to its passengers at the moment and the flight is tonight. So, where is the airspace being shut coming from.

“Delta Airline decided to divert the Lagos bound flight to Dakar, Senegal before going back to New York not because our airspace is shut but its Lagos office informed the Pilot that there is curfew in Lagos. Expectedly, American airlines are so sensitive to issues like that.”

Back story: A Twitter user, Osasu Onayiuwana, whose friend is one of Delta Air passengers en-route Lagos from Atlanta, USA, had alleged that Delta Airline returned ti New York because Nigerian air space was shut.

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He tweeted, “A friend returning to Lagos, from Atlanta on @Delta has been informed, during their Dakar, Senegal stopover, that @Nigeria’s airspace has been closed. They are now flying back to Atlanta!

“Actually, his plane is currently on the way to New York, from Dakar. Before this, some passengers asked @Delta to allow them to find their way to Lagos from Dakar. Understandably, the airline refused.”

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Economy & Politics

FRC to implement new IFRS 17

The FRC is set to implement International Financial Reporting Standard 17 (IFRS) on or before January 2023.

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The Financial Reporting Council of Nigeria is expected to implement International Financial Reporting
Standard 17 (IFRS) on or before January 2023. This follows the amendment of the standard on June 25, 2020.

This was disclosed by the Head, Directorate of Accounting Standards Public Sector, FRC, Dr. Iheanyi Anyahara, during a Stakeholders interactive forum with FRC and International Accounting Standards Board (IASB) webinar recently.

Nigeria adopted the IFRS as part of measures to improve transparency, reporting practices and full disclosures.

Having adopted the IFRS by the Council, Anyahara explained that all amendments to existing standards alongside the new standards issued by the International Accounting Standards Board (IASB) must be implemented by all reporting entities in Nigeria.

According to him, the Council is aware that implementing IFRS 17 commands a radical departure from current accounting standards and produces complex operational challenges.

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He said, “That is why we are organizing this programme and many more in collaboration with IASB to guide the users of the standards both in application and implementation.

“The Council will be organizing more events in financial reporting, auditing and corporate governance in order to sensitize the general public and lessen the knowledge gap in IFRS standards in Nigeria in collaboration with relevant agencies and organisations.”

Back story:

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Last July, Nairametrics reported when FRC released guidelines for reporting in compliance with the Nigerian Code of Corporate Governance. (NCCG 2018).

In a statement posted on its website, the Council explained that it had been engaging with all regulators of sectors for the purpose of developing sectoral guidelines of corporate governance on specific requirements relevant to each sector, which are not covered under NCCG 2018.

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Business News

Geely Auto to invest 54 million dollars in the development of healthy cars

Geely’s leading track record will be taken to a new level with the development of an all-round “healthier car.”

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As Exclusive Partner of Geely Automotive in Nigeria, Mikano brings us great news of Geely Automotive innovative steps towards development of “healthy, intelligent vehicles” by earmarking 54 million Dollars of funding to it; as a furthering of the fight against Coronavirus.

The move not only adds a new dimension to Geely’s understanding of “passenger safety,” it also represents a new development direction for automobiles.

READ: Automotive Bill: Why FG may return it to National Assembly

The development of a “healthier car” differs from specialized medical vehicles in that Geely’s products are made for ordinary consumers. Cars with comprehensive virus protection not only require the capability to isolate harmful substances in the air, it also needs to quickly and effectively purify cabin air for occupants.

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Geely Auto’s global R&D and design networks based in Europe, USA and China will jointly move to develop and research new environmentally sustainable materials with anti-bacterial and anti-viral properties which can be used within air-conditioner systems and on frequently touched surfaces such as buttons and handles.

Geely Auto will make full use of its global R&D system and resources as well as cooperate with professional medical and scientific research institutions to set up special project teams to work on the new research.

READ: Cars45 CEO explains how to increase demand for Made in Nigeria cars

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An Conghui, President of Geely Holding Group and President and CEO of Geely Auto Group said “Epidemic prevention is a job that requires the long-term effort of wider society. As the most common mode of transportation, consumers spend a considerable amount time in their cars, akin to a “second home” Only by making healthier products can we meet consumer demand for better quality of life. Based on the automotive industry’s development direction built around electrified, connectivity, intelligence, and shared mobility, auto companies should commit to developing products that help protect the health of drivers and passengers. This will become one of Geely Auto key long-term development objectives.”

Earlier on January 28, Geely Holding Group joined hands with the Li Shufu Foundation to set up a special 30 million dollars fund in support of the new coronavirus prevention and control, with a focus on the mass purchasing of much needed medical supplies for China in the short term.

Geely’s leading track record will be taken to a new level with the development of an all-round “healthier car.” Geely’s move sets a new precedent in the development of safety technologies that goes beyond developing leading crash test results and moves into new dimensions of passenger safety.

Visit www.geely.ng to find out more about Geely Nigeria

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