Law On Local Aircraft Insurance: Boyo Calls For Review
The Chief Executive Officer of Overland Airways Limited, Capt. Edward Boyo has called for a review of the insurance law that mandates aircraft operators to insure their aircraft locally.
Speaking at the 4th CHINET Aviacargo Conference held at Marriot Hotel, Ikeja, Lagos on August 22, 2024, Boyo argued that the aircraft operated by local operators are not owned by them but were borrowed from lessors in America and other parts of the world, and are expensive assets.
“It is not our property,” he said adding that the law is a contributory factor to the high cost of tickets thereby “inhibiting the goals and availability of air transport assets to benefit Nigerians today.”
“Is it possible to review that regulation, no matter that it takes? Laws can be changed,” he said.
