High airfares occasioned by depreciating naira, closed lower inventories due to revenues of foreign airlines trapped in Nigeria, brought flight ticket sales down by 40 per cent in the fourth quarter of 2023. This was disclosed by the National Association of Nigeria Travel Agencies (NANTA), which compared ticket sales at the period with the same period […]
Travel agents have expressed optimism and joy that airfares on international destinations are beginning to come down as the appreciation of the Naira over dollar has started reflecting on the International Air Transport Association (IATA) exchange rate, which is the bench mark that foreign airlines use to determine their fares. The General Managing Director, Flinchglow […]
*Top travel agent explains why CBN does not owe foreign airlines Foreign airlines have continued to dispute the claim of the Central Bank of Nigeria (CBN) that it has paid off all the trapped airlines funds in its possession. But there are indications that the apex bank might be right as other revenues of the […]
Despite the recent threat by the International Air Transport Association that its members may leave Nigeria because of their trapped funds in the country, the reality is that foreign airlines are still making a brisk business in the country because it is a profitable destination Some foreign airlines have left Nigeria due to factors bordering […]
High airfares charged in Nigeria by international airlines could be traced to the lopsided Bilateral Air Service Agreements that was signed by the federal government, which does not protect Nigerian carriers and travellers. It has become a cliché to say that Nigerian travellers pay the highest airfares to international destinations in West Africa and one […]
