ExecuJet, part of the Luxaviation Group, is announcing the approval of a free trade zone at its MRO facility in Lagos, Nigeria, with customers set to save 10-15% or more on supply and maintenance services.
The free trade zone (FTZ) means that parts and services, which previously would have incurred VAT and costs from customs authorities, will now be exempt from these charges. ExecuJet will be passing this substantial saving onto customers.
The agreement also allows the company to keep consignment stock for a number of OEMs, which means quicker turnaround for parts – a bonus which will benefit both business aviation operators and regional airlines in Nigeria.
Gavin Kiggen, Vice President Africa, ExecuJet, says: “Obtaining the FTZ took approximately two years, during which time the ExecuJet team had to demonstrate how the FTZ would benefit Lagos and Nigeria as a whole. We’re very proud to now announce the approval of the FTZ in Lagos, and the successful negotiation of zero VAT and zero duties for ExecuJet customers.
Read the full report in Aviation Pros
The agreement also allows the company to keep consignment stock for a number of OEMs, which means quicker turnaround for parts – a bonus which will benefit both business aviation operators and regional airlines in Nigeria.
Gavin Kiggen, Vice President Africa, ExecuJet, says: “Obtaining the FTZ took approximately two years, during which time the ExecuJet team had to demonstrate how the FTZ would benefit Lagos and Nigeria as a whole. We’re very proud to now announce the approval of the FTZ in Lagos, and the successful negotiation of zero VAT and zero duties for ExecuJet customers.
Read the full report in Aviation Pros
Why nigeria needs free trade zones around international airports
Read report from Sun News Online