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 […]
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 […]
Besides charging Nigerian air travellers exorbitant fares, aviation experts have raised concern over foreign airlines’ inability to repatriate trapped funds in Nigeria, insisting that Nigeria has become a country with the highest amount of foreign airlines’ trapped funds while highlighting its implications. The implications according to them include the designation of Nigeria as a high-risk […]
Middle East mega carrier, Emirates Airlines has announced that it would reduce its flights to Nigeria from August 15 2022 due to its failure to repatriate its revenue earned from ticket sales in Nigeria. The airline said it would be forced to reduce flight from Dubai to Lagos from 11 times per week to seven […]
In 2016 many oil producing countries that were hit by economic crunch due to low prices of the product could not allow international carriers to repatriate their revenues as foreign exchange became very scarce. Twenty months after, airlines that operate to Nigeria still battle government for the full repatriation of their funds. At the peak […]
