ExecuJet, part of the Luxaviation Group, has gained approval for a free trade zone at its MRO facility in Lagos, Nigeria, with customers expected to save 15% or more on supply and maintenance services.
The free trade zone (FTZ) means that parts and services that previously would have incurred VAT and costs from customs authorities will now be exempt from these charges.
The agreement also allows the company to keep consignment stock for a number of OEMs (original equipment manufacturers), meaning a quicker turnaround for parts. This is a bonus that is expected to benefit both business aviation operators and regional airlines in Nigeria.
Gavin Kiggen, vice president Africa, ExecuJet, commented, “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.
“The FTZ is the latest addition to our services in Nigeria, after we welcomed a number of manufacturers to our facility in 2017. Our MRO in Lagos is on an exciting trajectory, and we expect this to continue as we serve our customers with ever-more competitive pricing to match the quality, performance and efficiency that ExecuJet demonstrates on a local and a global scale.”