New York is about to find out whether it’s possible to build a 35-gate terminal at New York LaGuardia around the existing one without disrupting operations or becoming plagued by cost overruns and delays. To finance construction at the airport in Queens, a group created by Swedish construction company Skanska, Canadian airport operator Vantage Airport Group and France’s Meridiam sold US$2.4b of debt Tuesday. The group, which has put up $200m in equity for the $4b project, has guaranteed it will be finished on-budget in 6 years. The Port Authority is relying on the consortium to design, build, finance and operate the new terminal, seeking to avoid the type of cost-overruns that dogged the rebuilding of the World Trade Centre by transferring some of the risk to the businesses. <br/>
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Several Nigerian airlines have cancelled and delayed domestic flights this week as yet another shortage — this time, of jet fuel — grips Africa’s biggest economy. Just days after the govt boosted petrol prices at gas stations by 67% to ease a fuel crisis that has plagued Nigeria since March, a shortage of aviation fuel hit the country. The oil-producing country has to import nearly all the fuel it consumes because of its rundown refineries. The delays have affected at least 4 of the country’s biggest domestic carriers. At the heart of the shortages, economists say, is a scarcity of another key commodity: dollars. Since oil prices began tumbling in 2014, fewer dollars have been flowing into Nigeria. State revenue has plummeted and foreign reserves have fallen by nearly US$3b in the past year. <br/>
China moved towards further opening up the country's lower altitude airspace for civilian use, a step that could spur growth in its general aviation industry by making it easier for smaller aircraft to fly. The State Council, the country's cabinet, announced the move Tuesday, although it did not give details. The move was announced as a guideline and will become law once the country's aviation regulator completes detailed rules. Opening the airspace will benefit China's tourism, emergency medical services and pilot training sectors, which operate light aircraft and helicopters. Beijing simplified flight approval procedures for private aircraft in Nov 2013, a move which was seen as the first step for the gradual opening up of its lower altitude airspace which is now controlled by the military. <br/>