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 […]
The aviation industry makes huge forex demand and contributes significantly in pressuring the Naira, from aircraft insurance, foreign airlines revenue, aircraft maintenance, and importation of equipment. Every aviator will readily tell you that most aviation activities are denominated in foreign currency; that apart from manpower, aviation fuel, catering, overhead costs and related services, which are […]
Air travellers have been lamenting the outrageous airfares recently exacerbated by the high cost of aviation such that a one-way ticket last Sunday on a 55 minutes domestic flight went for about N120, 000. This was higher than the peak fares during the Easter season, which cost was about N80, 000 for the same flight […]
Industry operators have said that one of the major factors why they are finding it difficult to replenish their depleting operating aircraft is the difficulty they face in remitting money to lessors due to forex scarcity. The operators also said that the current exchange rate and the delay in financial institutions to remit the funds […]
The Chief Executive Officer of Aero Contractors, Captain Ado Sanusi has said the inability of Nigerian airlines to secure foreign exchange was affecting their operations. According to him, owing to this, domestic carriers are finding it difficult to acquire spares, carry out maintenance of their aircraft, pay for technical training of personnel and lease aircraft. […]
