Chief Executive Officer, Ethiopian Airlines, Mr Girma Wake, has said increase in air accidents in Africa and the dangerous situation experienced by pilots due to poor navigational facilities have made the continent the graveyard of aviation in the world, thus discouraging financiers from investing in the industry.
Wake said this yesterday at the on-going 17th Annual African Aviation Finance Conference in Addis Ababa, organised by African Aviation Services.
He said, “one of the reasons Africa is considered the graveyard of aviation is due to lack of infrastructure at the airports. The number of air misses in Africa is much. When I read the report of our pilots, I get scared. Airport and navigational infrastructure are just not there and that is the reason why banks and other financiers are reluctant to finance the industry in the continent.”The conference, which has the theme, “Air Finance in Africa,” attracted discussions from aviation professionals and financiers from all over the world, to deliberate on how to improve funding of airlines and airport infrastructure in the continent, to mark a significant change from the past.
In an earlier address. Wake said there would be no proper trade, economic growth or unity without effective aviation industry in Africa, adding, “economic unity leads to political unity and this can only be achieved through aviation development in the continent.
“Secretary-General, Africa Airlines Association (AFR-AA), Mr Christian Folly-Kossi, in a speech, expressed the fear that many African airlines may be driven out of business by mega carriers like British Airways, Lufthansa, Air France, Emirates and others, unless African governments take drastic action by adopting single airspace, which will give airlines on the continent the opportunity to fly to any African country from another, adding that the airlines should begin to have cross-border investment in the industry, to ensure their sustenance.
This, he said, will encourage mergers of small airlines from different countries on the continent to create mega airlines that will have the financial strength to compete with foreign airlines.
By Chinedu Eze | This Day