This assistance will be facilitated through partnerships with financially stable lessors and global financiers. Moore Ibekwe, Boeing's Sales Director for the Africa Region Commercial Airlines, made this announcement in Dublin, Ireland, at the inaugural meeting of the 'Boeing Lessor Forum', which takes place from January 12 to 15.
Boeing International Corporation has expressed its willingness to support Nigerian airlines in securing sufficient aircraft insurance coverage.
This assistance will be facilitated through partnerships with financially stable lessors and global financiers. Moore Ibekwe, Boeing's Sales Director for the Africa Region Commercial Airlines, made this announcement in Dublin, Ireland, at the inaugural meeting of the 'Boeing Lessor Forum', which takes place from January 12 to 15.
According to Mr Ibekwe, such efforts will contribute significantly to enabling Nigerian airline operators to mitigate risks and guard against losses, the News Agency of Nigeria reports.
“One key aspect of aviation insurance in Nigeria is the requirement for aircraft operators to maintain adequate insurance cover. Boosting the capacity of aviation insurance in Nigeria is essential to ensuring stability and safety through financial soundness of insurance operators in the sector.
“This meeting is part of efforts the Nigerian government is making to address issues related to aircraft insurance in the aviation sector,” he said.
He praised Nigeria for securing the first position in the Cape Town Convention compliance index rating in Africa.
The director added that tracking funds by lessors is no longer an issue in the Nigerian aviation sector.
Rose Lereece, organiser of the 'Nigerian Aviation Forum', addressed the attendees, encouraging the Nigerian delegation to capitalise on the opportunities presented at the event.
She emphasised the potential for attracting businesses that could drive growth and advancement in Nigeria's aviation sector.
Boeing is facing a number of challenges, including safety and quality control. The aircraft manufacturer has been dealing with a safety and quality control crisis, including fatal crashes of the 737 MAX in 2018 and 2019 linked to faulty software.
There was also a potential fault in the Boeing Starliner capsule that stranded two astronauts on the International Space Station and a door plug issue on the 737-9.
Boeing's production has been halted by a strike, and the company's 2024 production is expected to be less than half of its rival, Airbus.
Boeing's best-selling plane, the 737 Max, and current models of the 777 have been halted by the strike.
Boeing is also facing a crisis of confidence from within its own ranks and it has suffered serial disasters.
In October 2024, Boeing CEO Kelly Ortberg acknowledged that "trust in our company has eroded" and outlined a strategic plan aimed at regaining the aerospace giant's leadership position amidst ongoing financial and operational challenges.
Ortberg, who took the helm in late July, laid out a comprehensive plan aimed at regaining Boeing's leadership position in the industry while tackling the company's pressing financial issues.
Ortberg emphasised that Boeing was "saddled with too much debt" and stressed the importance of a "fundamental culture change" within the organisation.
He stated that to stabilise the business, there must be improved execution discipline, particularly with new aircraft platforms.