The managing director, Aero Contractors, Capt. Ado Sanusi has lamented that airlines operating in Nigeria are seriously suffering under a heavy tax burden that has made it impossible for them to post a profit in the last 30 years.
Sanusi said the aviation sector in the country faces a scarcity of forex and continuous multiple taxing situations that crippling growth and development.
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The Aero Contractors boss spoke against the backdrop of the return of the airlines to the sky on 5th December 2022, stating that no airline in the country has posted a profit in the last 30 years.
He stated that there is nowhere in the world where airlines or any business is taxed to grow, stressing that airlines year in and year out for over three decades have been having financial challenges.
Sanusi highlighted the challenges thus: “most airlines are challenged by multiple taxations and foreign exchange issues. Airline year in and ear out over the last three decades has been having financial challenges. They are taxing them too much. You cannot tax to grow. It is not possible. It is not done anywhere. We have to look inward first to address the latent problems of airlines in this country.”
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“Every airline has had challenges with finances for the past 30 years. I don’t think any airline has posted a profit in this country. What does that tell you? Something is wrong. Other airlines everywhere even in Africa are posting profits. DSomethingis wrong somewhere.”
