AALC reveals ambitious plans for revitalising Nigerian aviation

Eleanor Steed
By Eleanor Steed June 7, 2017 16:02

AALC reveals ambitious plans for revitalising Nigerian aviation

African Aircraft Leasing Company (AALC), a Nigerian aviation consolidated firm, has unveiled plans to invest over $20 billion in the country to facilitate the lease of aircraft for Nigerian operators, setting up of aircraft maintenance repair and overhaul centre, spares logistics and supply as well as aggregated services solutions. The investment is in partnership with Boeing, according to the Executive Director, SpringFountain Infrastructure, Tokunbo Fagbemi, which was signed in Lagos.

She said: ” We cannot overemphasize for Government to create a right enabling environment for the African Aircraft Leasing Company (AALC), OEM led MRO centre, African Aircraft Spare Parts Company (AASC) and Aggregated Services Solutions provider to be able to list and trade on the NASD OTC, Nigerian Stock Exchange, Aviation Asset Backed Securities (ABS), Enhanced Equipment Trust Certificates and other innovative tradeable monetary and debt instruments.

“Government should provide exemption from certain charges such as customs duties and grant us pioneer status, to create a one stop shop for the processing and issuance of all necessary permits and licenses.

“The AALC project will need fiscal support from the Government. The importation and clearing of aircraft spares will need to fall under a different customs clearance regime. We will need a special visa regime and dedicated immigration procedure for crew and workmen in the aviation industry. “Airport concession fees and other charges will need to be waived or differed for these brand-new aircraft and especially for the MRO bound aircraft.

“Freight cargo handling and freight cargo handling procedure will need to be improved. Cargo clearance procedure will need to be harmonised especially for spares as domestic cargo.

“The Federal Government should work to align Nigeria with international standards on control and compliance with aircraft noise and fuel emission. Government should invest in aviation education, skill building and skill development capacity.

“The Government should also provide a dedicated space where the MRO could be located. The government should create a Special Economic Free Trade Zone (SEFTZ) for the MRO and the Spare Parts Company.

” We want to work with Government and the aviation industry to bring brand new aircraft which hopefully will bring down the cost of operations for operators and bring down the cost of airfare for passengers in Africa.

“We therefore, call on Government to facilitate the implementation of the Yamoussoukro Declaration (YD) and the African Union Declaration 2063. The Government should work with us to make the Aircraft Ambassadors to African Aviation.”

Eleanor Steed
By Eleanor Steed June 7, 2017 16:02