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AIB Releases Preliminary Reports on Dana, Delta Incidents

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Dana Air
  • AIB Releases Preliminary Reports on Dana, Delta Incidents

The Accident Investigation Bureau has released the preliminary report on the ongoing investigation into the incident involving Dana Air’s MD-83 aircraft that overran the runway at the Port Harcourt International Airport on February 20.

The bureau also released preliminary reports on Delta Airlines’ Airbus A330-223 aircraft, whose engine caught fire after take-off from the Murtala Muhammed International Airport, Lagos as well as the accident involving a Gulfstream G200 aircraft belonging to Nest Oil, which occurred at Nnamdi Azikiwe International Airport, Abuja on January 25, 2018.

According to the AIB, the reports contain factual information on the three occurrences and not their probable causes as investigations are still ongoing.

“They include information gathered from witness statements and preliminary inspection of the aircraft and the accident sites. The three reports have been uploaded to the bureau’s website,” the AIB said in a statement signed by the General Manager, Public Affairs, Tunji Oketunbi, on Tuesday.

The bureau said its findings on Dana indicated that the runway was wet and the crew were certified and qualified to conduct the flight, while the first officer was the pilot flying and the captain took over control at about six nautical miles to touch down.

The AIB added that the aircraft was substantially damaged, the runway approach lights and landing aids were also damaged, while all persons on board were evacuated unhurt.

It stated, “The Dana Air MD-83, which took off from Abuja, had an uneventful flight to Port Harcourt and was cleared to land by the Air Traffic Control. The crew reported that the runway had experienced recent rain before arrival and after touch down, looked and felt contaminated with flood of water that did not drain well.

“Other findings include the fact that after the aircraft came to a complete stop, emergency evacuation was carried out using only the left forward main door and the escape slide on this door did not deploy just as the Public Address System did not work. The Airport Rescue and Fire Fighting Service arrived during the evacuation and all persons on board were evacuated unhurt.”

On Delta Airlines’ incident, the AIB said its findings indicated that the flight crew were certified and qualified to conduct the flight in accordance with applicable United States Federal Aviation Administration regulations, but that the number one engine fire warning came on about a minute after take-off, while the crew at 2252.25hrs contacted air traffic control and declared emergency.

The investigation on Nest Oil aircraft, according to the bureau, found that the departure, cruise and approach to the Abuja airport were uneventful, and the aircraft was cleared to land on runway 22 but lost directional control during the landing roll and veered off before resting on the right shoulder of the runway.

The Commissioner of AIB, Mr. Akin Olateru, stated that the reports were promptly released to enhance safety.

“We are seriously committed to releasing investigation reports on time. This is one way to ensure that such occurrences are prevented from repeating themselves and conform with the purpose of accident investigation,” he added.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Pharmaceutical Industry M&A Activity Grew by 17% in H1 2020 amid 56% Drop in Deal Value

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merger and acquisition

Pharmaceutical Industry M&A Activity Rose by 17% in the First Half of 2020

According to the research data analyzed and published by ComprarAcciones, merger and acquisition (M&A) deal activity in the pharmaceutical sector rose by 17% in H1 2020, disregarding the economic toll of the global pandemic.

It saw a total of 41 deals during the period, but the Q2 2020 deal value total of $3.3 billion was the lowest quarterly total since Q1 2018.

According to PwC, the pharma subsector posted a drop of 56% in deal value from H2 2019 to H1 2020. For the PLS sector as a whole (pharma, biotech and medical devices), the decline in deal value was a massive 87.2% during the same period.

Pharma and Life Sciences (PLS) M&A Total Deal Value Sank from $272.9B to $35B YoY

The total deal value for the pharmaceutical subsector in H1 2019 was $100.1 billion. In contrast, its total deal value in H1 2020 was valued at $7.7 billion.

The PLS sector had a total of 99 deals valued at $35 billion in H1 2020. In H2 2019, the figures were higher, with 129 deals valued at $86.5 billion. H1 2019 was even bigger, with 119 deals valued at a remarkable $272.9 billion.

Meanwhile, for the healthcare industry as a whole, H2 2020 started off with 13 deals valued at $1 billion+ according to S&P Global.

On the other hand, based on a report from Global Data, the global M&A deal value started on a downtrend in Q1 2020. It went from $151.2 billion to $129.9 billion from February to March. Another study from S&P Global shows that the decline carried into Q2 2020, with a 35% drop in deal volume. Similarly, total transaction value dropped by 40%, the highest drop since 2015.

Comparing H1 2020 to H2 2019, the total deal volume sank by 32% year-over-year (YoY) from 10,155 deals to 6,938 according to Merger Market. Deal values sank by 53%, from $1.9 trillion to $901.6 billion during the same period.

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Lagos State to Support Businesses Looted by Hoodlums

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endSARS violence

Lagos State to Support Businesses Vandalised and Looted by Hoodlums

Lagos State has announced plans to support businesses looted and vandalised by hoodlums last week.

The Deputy Governor of the stated, Obafemi Hamzat, made this known in a series of tweets put out on Friday.

He directed businesses vandalised in the state to fill a form attached through the link below.

“If you are a Lagos based business and your store got looted/vandalized this week, please fill this form by @LSETF https://t.co/lwPiXvFzTp. Let’s do what we can to support you,” he tweeted.

This was after Governor Babajide Sanwo-Olu said the state had activated the process of healing the destruction and massacre that happened earlier in the week when security operatives in army uniforms opened fire on armless #EndSARS protesters.

Sanwo-Olu said, “My heart bled after I went out today for a first-hand assessment of the destruction of assets of the Government and private properties. The level of destruction observed indicated that the violence was more than just a peaceful protest and agitations for police reforms. The proportion of devastation is a lot. This is not the Lagos that was handed over to me on May 29, 2019.

“Moving forward from the destruction, we have to continue the process of healing ourselves. We need to stop some of our citizens still using social media to instigate or incite the people. It will not be under my watch that we will lose the city that has the largest economy in the entire black nation. Enough is enough. I have moved around and I saw that our people want peace. On this, we are committed to bringing lasting peace back to the State.

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TVC Resumes Operations in Lagos Office Following Hoodlums Attack

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Telecommunications

TVC Commences Operations Less Than 72 Hours After Hoodlums Attacked and Destroyed the Company’s Lagos Office

Television Continental (TVC) station has resumed operations less than 72 hours after its Lagos office was attacked by hoodlums that hijacked the #EndSARS protest.

The television station was attacked on Wednesday by criminals would believe that the media platform was owned by one of the top Buhari supporters, Mr. Bola Ahmed Tinubu.

The attack followed the shooting of unarmed #EndSARS protesters, who had gathered to protest against the activities of the Special Anti-Robbery Squad (SARS) unit of the Nigerian Police Force (NPF) at the Lekki Toll Gate on Tuesday.

The peaceful protesters were shot by security operatives in Nigerian Army uniform before the commencement of curfew imposed by Governor Babajide Sanwo-Olu of Lagos State.

The killings now tagged Lekki Massacre attracted global attention as global leaders condemned the Federal Government or whoever ordered the shooting and called for an immediate investigation into the matter.

On Wednesday, criminals allegedly sponsored by interested parties to dislodge peaceful protesters took advantage of the situation to wreak havoc across Nigeria’s commercial hub, Lagos State, as several private establishments businesses were attacked and looted by these unscrupulous characters.

One of the establishments attacked was the National Newspaper also linked to Mr. Tinubu.

The hoodlums stormed TVC on Wednesday morning during a popular morning show, Your View, anchored by Mrs Morayo Afolabi-Brown, the programme did not end before the television station went off air as it was immediately set on fire.

However, Investors King gathered that TVC resumed operations on Saturday morning, although regular programs were yet to resume fully.

As at the time of writing, the station was airing promos of various programmes and from what we gathered, regular programming will return very soon especially from its Abuja office.

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