As dollar value rises against the naira, coupled with inflation, it has emerged that airfares may rise between N150, 000 and N250, 000 for one hour flight in domestic destinations, which will amount to over 100 per cent price increase. Currently average cost of flight is about N70, 000, however, it was learnt that this […]
The Airline Operators of Nigeria (AON) in a review of 2022 said it witnessed a lot of challenges, ranging from high cost of aviation fuel, scarcity of the product, high exchange rate and paucity of dollars coupled with environmental challenges like bad weather that caused flight delay inadequate airport facilities, which encumbered facilitation. The high […]
The Central Bank of Nigeria (CBN) yesterday released $265 million to foreign airlines operating in the country for the remittance of a part of their revenues trapped in the country. A number of foreign airlines had raised the alarm over their inability to remit their revenues in Nigeria said to be around $450 million. Last […]
Domestic carriers may suffer forced depletion of aircraft, following the suspension of all aircraft checks abroad due to lack of foreign exchange. With the latest development, all the aircraft ferried overseas would remain in various aircraft maintenance facilities until the airlines are able to source for funds to pay for their repairs and subsequent return […]
Foreign airlines have kept to their threat of withdrawing flight service to Nigeria if their trapped revenues were not repatriated, as Middle East mega carrier, Emirates Airlines, announced that it would suspend all flights to Nigeria from September 1, 2022. Emirates is owed over $95 million in Nigeria, which it cannot repatriate due to scarcity […]
