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The International Air Transport Association (IATA) has called for aviation-specific financial relief measures from the Federal Government to address the severe impact of the COVID-19 crisis on the air transport sector.
“Nigeria has announced general relief measures for sectors affected by COVID-19, but not specifically for aviation. Given the importance of air transport for Nigeria’s economy and connectivity, the government must not let aviation fail. The industry faces a liquidity crisis. Without a viable aviation sector Nigeria’s eventual recovery from COVID-19 will be longer and even more painful. Aviation-specific financial relief measures are urgently needed as a matter of survival,” said Muhammad Albakri, IATA’s Regional Vice President for Africa and the Middle East.
“The government should consider implementing some or all of the following relief measures: direct financial support to passenger and cargo carriers; loans, loan guarantees and support for the corporate bond market by the Central Bank; tax relief – rebates on payroll taxes paid to date in 2020 and/or an extension of payment terms for the rest of 2020; financial relief on airport and air traffic control (ATC) charges and taxes; reduction, waiver or deferral of government-imposed taxes and fees; foreign exchange (forex) availability…”
