FG releases N5billion aviation intervention fund
The Ministry of Aviation on Monday said the Federal Government has disbursed N5bn out of the N26bn approved as COVID-19 intervention fund for the aviation industry.
The Permanent Secretary, Federal Ministry of Aviation, Hassan Musa, made this known while speaking on the floor of the House of Representatives.
Addressing the House Committee on Aviation in Abuja, Musa stated that the intervention fund was meant for all stakeholders in the sector, including airlines and car hire operators.
According to him, the balance will be shared among government agencies and regulators and will serve as palliatives for salaries.
The N27 billion bailout palliative was introduced by the Federal Government last year to cushion the effects of the Covid-19 lockdown and restriction in air travel on the industry.
It was reported that the Federal Government earlier shared the sum of N4 billion bailout funds among about 18 scheduled and non-scheduled local carriers, to cushion the effects of the COVID-19 pandemic while aviation service providers got N1 billion.
It was gathered that all airlines with valid Air Operating Certificates (AOCs) were given access to the fund, which was distributed according to the size of the carrier..
It was learnt that these parameters made some airlines that were deemed inoperative to be beneficiaries of the COVID-19 stimulus package.
Aero Contractors, Ibom Air, West Link, TAL Helicopters, and Aircraft Maintenance Organisations (AMOs) are some of the airlines that complained of missing out on the stimulus package.
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