The Nigeria Civil Aviation Authority (NCAA) has signed the updated NCAA Procedure for Recordation of Irrevocable Deregistration and Export Request Authorization (IDERA).
This means the process by which aircraft owners can take their aircraft out of Nigeria in the case of defaulting airline has been simplified.
The Minister of Aviation and Aerospace, Festus Keyamo who signed the document in Abuja said Nigerian airlines would be able to secure more aircraft on dry-lease.
He also noted that lessors now have two remedies which is either judicial proceedings or the administrative route.
Beforehand, the minister said lessors and financiers in the aviation industry blacklisted Nigeria because they thought the country was unsafe for business and their aircraft.
The minister said, ā We signed the practice direction guiding the court on how to interpret the Cape Town convention and the protocols.
āWe signed that because there was judicial uncertainty before then as to how to treat cases that come before the court requiring the court to intervene when there is a dispute between the lessors and lessee.ā
The Ag. Director General of NCAA, Chris Najomo said IDERA would make it easier for airlines to attain dry-lease aircraft and boost their operational function.
“About registration and operation of aircraft in Nigeria, the main impact of the Convention is the ability of the registered owner to request an Irrevocable De-Registration and Export Request Authorisation (IDERA) over an eligible aircraft.
“Once an IDERA is recorded, the party that has been declared by the registered owner as the authorised party will be the only party with the right to de-register and export the aircraft.” he said.
