The banks of domestic airlines that are supposed to disburse the Federal Government’s N300billion aviation bailout funds to the airlines but frustrated the airlines may be questioned by the National Assembly.

This became obvious in view of revelations made at the public hearing organised by the National Assembly Joint Committee on Aviation

probing the June 3 Dana Air crash.

While the senior special adviser to the president on aviation stated that the sum of N87 billion had been disbursed to 10 domestic airlines,

some of the airlines denied the claim, saying that only three of them had been able to access part of the funds.

The airlines accused the banks of putting obstruction on their way thereby making it difficult for them to access the bailout fund.

According to them, the 25 per cent interest rate at which the banks intended to disburse the funds would only pave the way for the banks

to enrich themselves while the airlines would become more indebted at the end of the day.

The Federal Government had negotiated for a 7.5 per cent interest rate on the loan for each airline.

Apart from the high interest rates demanded by the banks, there was the condition that part of the debts the airlines owed the banks would be deducted from the loan.

The Nigerian Tribune, however, gathered that the banks, sensing that the lawmakers may soon invite them for questioning, have started inviting some of the airlines to come for the bailout money.

Confirming this, the Assistant General Secretary of Airlines Operators of Nigeria (AON), Muhammed Tukur, said some of the banks, which had hitherto denied the airlines the bailout fund, had since last week started sending letters to the airlines demanding to know how they would want the money transferred to their accounts.

Tukur said this development was coming too late as many of the airlines had started sourcing for operational funds from banks outside the country.

The bailout funds were approved two years ago by the administration of the late President Umaru Yar’Adua.

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