THE Federal Government has declared April 30 as the deadline for airlines operating in Nigeria to comply with the new recapitalisation policy or have their Air Transport Licence (ATL) revoked.
The development is coming even as the operators have cried foul over the failure of government to release the guidelines for the airlines to merge.
In a letter dated February 28 and signed by the Director of Air Transport Regulations in the Nigerian Civil Aviation Authority (NCAA), Alfred Famodimu, entitled: �Increase in the paid-up capital base of airlines operating in Nigeria�, and sent to the operators, the director informed them of the Federal Executive Council�s (FEC�s) approval of the review and implementation of a new policy on paid-up capital for domestic airlines in Nigeria.
Under the new policy, operators wishing to be issued an ATL and Airline Operating Permit (AOP) should show evidence of corresponding capitalisation specified in the NCAA circular to the operators.
Under the NCAA requirements as approved by the FEC, airlines wishing to operate domestically must meet minimum requirement of new generation aircraft not lower than B737-300 or its equivalent.
The estimated capitalisation is made up of the cost of leasing of aircraft and other assets such as offices, spare parts, technical staff, among others, which translate into N500 million.
Operators wishing to operate within Africa must have at least four new generation aircraft made up of the cost of leasing aircraft and other assets translating into a total of minimum capitalisation of N1 billion.
For operators going for intercontinental operations, a minimum of two B767-300 aircraft or its equivalent with the cost of leasing aircraft and other assets which translate into N2 billion.
Other requirements include the compulsory installation of the Ground Proximity Warning System (GPWS) on the fleet of operators wishing to operate under any of the three areas.
On the effective date of the new policy, the NCAA, in the circular, said �Operators currently holding an ATL are expected to attain the new capital base by the end of April 2007 while operators with ATL but yet to commence operation are expected to meet the new capital base before commencing operations. If they are unable to start operations before April 30, 2007, their ATL should automatically be revoked.�
Airline operators, according to investigations, may not meet the deadline as most of them do not have structures on the ground.
The Federal Government has been accused of not releasing guidelines for merging.
One of the operators cited two airlines, Transahara and Fresh Air, which merged but were grounded because they were said not to have met government requirements for merging.
The new recapitalisation policy came into existence during the time of Mallam Isa Yuguda as minister.
The recapitalisation policy was embraced by government as a way of making travel in Nigeria safe.