FAAN says only 3 out of 22 airports are profitable
- Kuku shared this information on Channels TV’s “The Morning Brief” breakfast show on Tuesday
Only three of Nigeria’s 22 international and domestic airports are commercially viable, according to Olubunmi Kuku, the Managing Director of the Federal Airports Authority of Nigeria (FAAN). Kuku shared this information on Channels TV’s “The Morning Brief” breakfast show on Tuesday.
She mentioned that several states in the north and southwest are developing new airports. Kuku also noted that the authority is cross-subsidizing the other 19 airports and will continue this practice for some of the new ones.
She said: “I started off by saying we have 22 airports that we own and manage. We also have about six or seven airports that are either owned by state governments or private individuals or entity which we also support with either aviation security or fire and rescue services.
“We have a number of states in the north as well as in the south-west that are coming up with new airports.
“I would say that based on the stats today, only three of the 22 airports are actually profitable and contribute largely to the sustenance of the airport companies that we run.
“I would say that we are actually cross-subsidising the other 19 airports today and in most instances, we will substitute or cross-subsidise for some of the airports that are coming on board as well.”
