Festus Keyamo, the Minister of Aviation and Aerospace Development, noted that the aviation industry faces a high failure rate, which has led to the collapse of more than 100 airlines over the past 40 years.
Speaking at the 10th anniversary celebration of Air Peace, West Africa’s largest airline and Nigeria’s flag carrier, held in Lagos on Saturday, Keyamo pledged that the current administration is committed to curbing the frequent shutdowns of airlines.
He said, “I am excited to be here today for two reasons. First is that Air Peace has survived for 10 years and keeps thriving. If you look at the history of airlines in Nigeria, you will discover that it is difficult for them to survive 10 years and still look healthy. We have a history of great mortality of airlines.
“More than a hundred airlines have gone in the last 40 years and I know you all remember. From Concord to Zenith to Bellview, among others. You will then ask yourself why they die off, I can keep mentioning them because I have their list with me.
“So when we came to office we said there must be something responsible for this high mortality rate and now we have Air Peace looking strong and has continued to be on the rise and not on the decline.”
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Keyamo noted the “worrisome” nature of the situation, explaining, “Let me tell you why this is a concern. According to a recent Boeing study, Nigeria makes up 80 percent of all domestic air travel across the entire African continent—not just in West or Central Africa, but all of Africa.”
“The busiest route in the whole of Africa is the Lagos-Abuja route; that is, in the entire Africa. I think it is followed by Johannesburg-Cape Town. But Nigeria is number one in terms of domestic travel.
“We have the population, we have the traffic, we have the people. So it is surprising that if we have this traffic, why are the airlines not surviving? Ask yourself. Why are they not surviving? And together, since we assumed office I have sat down with operators to solve this problem and I listen to them.”
Keyamo expressed confidence that Air Peace, a 10-year-old Nigerian airline, has successfully overcome the common early challenges that often affect new airlines within their first five to ten years. This resilience, he noted, signals a promising future for the airline as a leading carrier.
Air Peace Chairman, Allen Onyema, added that the airline was founded with a vision of making a positive impact in Nigeria, driven by a commitment to create jobs for the nation’s youth rather than solely focusing on profit.
“Air Peace is a product of deep thinking and a desire to make a far-reaching impact in a country I love deeply. Like most businesses, profit is an important motive; however, with Air Peace, profit was not the primary driving force behind its establishment,” he stated.
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