The Minister of Aviation and Aerospace Development, Festus Keyamo on Wednesday in Abuja, signed the Irrevocable Deregistration and Export Request authorisation (IDERA) Advisory Circular for the recordation and cancellation of leased aircraft in the country
Keyamo, who signed the document alongside the Director – General, Nigeria Civil Aviation Authority (NCAA), Chris Najom, noted that the goal is to enable Nigeria airlines have access to dry-lease aircraft to boost operational capacity.
The minister explained that the document is an international requirement that would further raise Nigeria scores in the world of lessors and financiers, saying though IDERA and Aircraft lessor can apply administratively to the Nigeria Civil Aviation Authority (NCAA) for an aircraft to be taken out of the country.
He added that signing of the IDERA was sin-qua-nor to the Practice Director that was recently signed by the Nigerian government to interpret the Cape-town convention.
Keyamo, maintained that the judicial uncertainty affected Nigeria’s rating by the international community and so the country was blacklisted that Nigeria is not a safe place for the lessors to to bring their aircraft.
According to him, Having settled the judicial remedies through practice direction, we want to now turn attention to the administrative route by which aircrafts can be deregistered and exported out of Nigeria.
He further explained that when the aircraft had finished its term for leases and wanted to be taken out of Nigeria, the lessors must go back to the NCAA to deregister it.
Keyamo added: “For the lessors coming into the country that wants to take their aircraft out of the country when there is a dispute, there are two remedies — the Judicial remedies is for the the leases that run to court to get injunction but the leaders can also go to court to seek for permission to take their aircraft out to which the court has 10 days to listen to the request and grant them the permission.
“The Aviation Roundtable group are patiently waiting for the signing of IDERA adding that there are certain negotiations around the world by Nigeria airline operators that have been put on hold. Now some airlines are trying to access some aircraft on dry leases but they are on hold until we sign the IDERA document.”
On his part, Najomo said the Cape Town Convention and the associated Aircraft Protocol which came into force in the United Kingdom on November 1, 2015 was aimed at reducing the cost of raising finance for large, high value mobile assets which routinely cross borders.
He noted that the aim of the Cape Town Convention w in relation to registration and operation of aircraft in Nigeria, adding that the main impact of the Convention is the ability of the registered owner to request an IDERA over an eligible aircraft.
Najomo noted that once an IDERA is recorded the party that has been declared by the registered owner as the “authorised party” would be the only party with the right to de-register and export the aircraft.
Najomo stated that the smooth execution of this authorisation has been impeded by judicial pronouncements and unwilling lessees, saying the minister has taken the bull by the horn in ameliorating the consequences of this occurrence.