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IATA Confirms Foreign Airlines Trapped Revenue in Nigeria has Risen to $812mn, Expresses Hope New Govt will Fully Repatriate Funds

Aviation Media
June 9, 2023
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The International Air Transport Association (IATA) has confirmed that foreign airlines revenue not yet repatriated from Nigeria has risen to $812.2 million. This was disclosed by the IATA Regional Vice-President, Africa and Middle East, Kamil Al- Awadhi at the on-going 79th AGM and World Air Transport Summit in Istanbul, Turkey. He warned that rapidly rising levels of […]

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IATA Expresses Optimism on Strengthening of Airline Profitability in 2023

Aviation Media
June 9, 2023
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The International Air Transport Association (IATA) has upgraded its outlook in 2023 and expressed hope there would be strengthening of airline industry profitability in the year, disclosing that airline industry net profits are expected to reach $9.8 billion in 2023 (1.2% net profit margin) which is more than double the previous forecast of $4.7 billion (December 2022). The […]

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Iyal Canvasses Support for Nigerian Airlines, Aviation Agencies

Aviation Media
May 18, 2023
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Former Special Assistant to The President on Aviation Matters and Managing Director, Afri-Air International Limited, Capt. Shehu Iyal has said that there is need for efforts to ensure that players in Nigeria’s aviation industry survive the existing economic challenges while working on sustainability of the industry in the future. Speaking in an interview on the […]

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Despite Increase in Airlines’ Capacity, Airfares Still High at Low Season

Aviation Media
May 5, 2023
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Low passenger traffic with accompanying low fares that follow the Christmas season in the previous years has not been witnessed this year, as the cost of tickets are still very high, despite increase in capacity by airlines. With the increase in capacity, which makes more seats available for domestic air travel, industry observers are of […]

Aviation

Exploitative Fares: Aviation Expert Explains Why Nigerians Pay more for International Travel *Flight Operations to Continue as FAAN Repairs Lagos Airport Runway

Aviation Media
March 16, 2023
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The decision to pay in Naira instead of in dollars may be the reason why Nigerians are paying more for international air travel. Foreign airlines close their low inventory and open their high inventory for Nigerians who wish to pay for tickets in Naira, while the low inventory are available in dollars. The President of […]