Since the past 43 years when the Apapa port's access roads were constructed, the nation has never had it this bad. From a million potholes to the death traps, loss of multi-billion naira goods, dirty and polluted environment, yet relief appears still farther than expected. SULAIMON SALAU reports that the
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Fraport sells its stake in Hannover Airport
Today, airport operator Fraport has sold its 30 percent stake in Flughafen Hannover-Langenhagen (FHLG), the operating company of Hannover Airport, to iCON Infrastructure Group for €109.2 million. Fraport had initially acquired a 20 percent stake in FHLG 1998, followed by another 10 percent five years later. Looking at Fraport Group’s most recent
IATA: Passenger Growth, Economic Boost Incentives for Investing in Aviation
The International Air Transport Association (IATA) and the African Development Bank (AfDB) have projected that Africa would be a market of 350 million airline passengers by 2035. This prediction, according to the association was an incentive for investors to go into commercial airline business. The Nigerian Civil Aviation Authority (NCAA) had disclosed that in 2017, many entrepreneurs
IAG Cargo Q2 financial results show marginal growth
United Kingdom-based IAG Cargo today, released its financial results for Q2 2018, cargo revenue increased 3.7 percent to €281 million during the three-month period. Revenue growth outpaced cargo volume growth, increasing 0.4 percent year-over-year in Q2, to 1,414 tonnes – symptomatic of the carrier’s strength in 2017, which has made for
Facing U.S. tariff threat, Toyota warns car costs could rise
2018 Toyota Hilux Rogue Rugged and Rugged Australian engineered Tokyo (Reuters) - Toyota Motor Corp on Friday said higher U.S. auto tariffs would ramp up the cost of vehicles produced locally along with those imported to the United States from Japan, which would have a “big impact” on its bottom line. Like its
Red Star Express Records N8.4bn Turnover, To Pay N236 million in dividend
Lagos - Red Star Express Plc has released its audited reports for the financial year which ended March 31, 2018, showing a rise in turnover to N8.4 billion from the N7.3 billion the previous year. The revenue growth was attributed to new business initiatives and expansion currently being driven by the
Lufthansa reports robust growth in Q2 financial report
Yesterday, Germany-based Lufthansa reported solid results for its logistics division for 1H 2018, with earnings before interest and taxes (EBIT) up 48 percent year-over-year to €125 million, from €84 million on revenues that were up 12.3 percent to €1.3 billion. The carrier’s traffic rose only slightly in the first six months
Taxi drivers in Spain block streets over ride-hailing services
Madrid - Striking taxi drivers brought traffic in parts of major Spanish cities to a standstill Monday by stopping their vehicles in major thoroughfares to protest ride-hailing services. Hundreds of stationary white taxis blocked the Paseo de la Castellana, one of Madrid’s longest and broadest avenues, while protesters played soccer and
Harley drives deeper into Asia with smaller bikes to fuel growth
Harley-Davidson Inc is launching lightweight motorcycles in Asian markets and electric bikes in the hope of sparking demand as it faces declining sales in the United States and the threat of trade tariffs increasing its costs. The 115-year-old Milwaukee, Wisconsin-based company, known for its heavy touring motorcycles, is scrambling to revamp its
