Overseas maintenance of aircraft costs scheduled local airlines excess of $107.317 million (N44 billion) yearly. The capital flight, from a conservative estimate of about 70 operating airplanes, lately soared given the black market exchange rate of close to N500/$1.
Stakeholders said the loss, to airlines in particular and the economy in general was avoidable had the Federal Government kept to its promise of setting up local maintenance Repair and Overhaul (MRO) facilities in the last six years…
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