Airliners bicker over N4b bailout sharing formula
Some airline operators have expressed displeasure over the sharing formula adopted for the distribution of N4 billion aviation bailout funds, saying it skewed the largesse in favour of few airlines.
The complainants, who operate smaller capacity, were displeased with the ratio 70:30 adopted between the schedule and non-scheduled carriers.
As of yesterday, the likes of Air Peace, Azman, Arik, Aero Contractors, Overland, and Dana Air had been listed as the biggest beneficiaries.
The Federal Government had, last week, shared the sum of N4 billion bailout funds among a total of 18 scheduled and non-scheduled carriers.
The special intervention was thrown open to all airlines with a valid Air Operating Certificate (AOC) and distributed according to the size of the carrier. The pa...