Low value of the local currency, unfavourable forex policy, aviation fuel scarcity and high cost of fuel, and poor infrastructure have kept international carriers under pressure and forcing them to leave the juicy Nigerian market. In a normal operational situation where there is no security threat, no diplomatic imbroglio and there is no war, foreign […]
The Central Bank of Nigeria (CBN) has confirmed that the intervention fund given to Nigerian airlines in 2010 was actually meant to cushion the debts owed the banks by the domestic carriers. The federal government gave N300 billion to the power and airlines to share, which was meant to help the airlines acquire new aircraft […]
International carriers that operate to different destinations in the country have called on the federal government to give them standard exchange rate for the repatriation of revenues earned from ticket sales or they would be forced to leave Nigeria. The Sales Manager of Emirates Airlines, Eghe Ekhator, issued the threat, why explaining the reasons […]
Although domestic airlines have expressed satisfaction over their recent inclusion in the interbank FX market, they have however argued that its implementation is a totally different ballgame. It was an elated Minister of State, Aviation, Senator Hadi Sirika that conveyed the good news last weekend that the Central Bank of Nigeria (CBN) had included domestic […]
After months of agitation the federal government has included airlines in the Interbank Foreign Exchange Market, which means that they would now be given priority when they request for foreign exchange, along with others also shortlisted. The Minister of State, Aviation, Senator Hadi Sirika made this known at the weekend and said that it was […]