trapped funds Archives - Page 2 of 2 - Aviation Media Africa | Online Magazine for Aviation,Travel,Tourism.

Foreign Airlines Lost N6.4bn to Naira Devaluation

Aviation Media
August 5, 2016
0 Comments

* Why Nigerians pay higher airfares The Country Manager of British Airways, Kola Olayinka has disclosed that foreign airlines operating in Nigeria lost N6.4billion in the N157.6 billion ($800) of their revenues trapped in the Central Bank of Nigeria (CBN) when the Naira was devalued from N197 to N280 by the apex regulator. The […]

Foreign Airlines Lose Nigeria’s High Yield Market to Economic Downturn

Aviation Media
June 3, 2016
0 Comments

Investigations have revealed that foreign airlines lose about $200 million monthly to the present economic crunch in Nigeria, which has forced potential travellers to defer their trips due to lack of disposable income. Also, there is reduction in passenger traffic as cash squeeze has impacted negatively on the purchasing power of the citizens, forcing million […]