Bernard Bankole Calls for Write-Off of Airlines' Legacy Debts

Mr. Bernard Bankole, the former President of the National Association of Nigerian Travel Agencies (NANTA) and Group Managing Director of Finchglow Holdings Limited, has called on the Federal Government to write off legacy debts owed by Nigerian airlines. He emphasized that many of these debts have become doubtful and should not burden either the airlines or government agencies.

Bankole argued that allowing new management and investors to rebuild viable businesses without inheriting old liabilities is crucial for the survival of airlines. He warned that pursuing debts accumulated over five or more years could compromise safety.

Additionally, he advocated for stronger financial oversight of airlines and effective monitoring by regulators. Bankole also proposed the establishment of a central aviation data system to improve transparency and reduce discrepancies among industry regulators.

Furthermore, he announced Finchglow Holdings' plans to expand investments in the aviation sector, including the establishment of a flying school in Ogun State, focusing on pilot training.