29 Jan 2023, 3:32 AM (GMT)

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IATA Slams Nigerian Government Over Trapped $600m Foreign Airlines’ Funds

The International Air Transport Association, IATA, has slammed the Nigerian Government over the $600 million trapped funds of foreign carriers operating in the country.

This was contained in a statement by IATA’s Regional Vice-President for Africa and Middle East, Kamil Alawahdi.

According to Alawahdi: “IATA is disappointed that the amount of airline money blocked from repatriation by the Nigerian government grew to $464 million in July.

“This is airline money and its repatriation is protected by international agreements in which Nigeria participates.

“IATA’s many warnings that failure to restore timely repatriation will hurt Nigeria with reduced air connectivity are proving true with the withdrawal of Emirates from the market.

“Airlines cannot be expected to fly if they cannot realize the revenue from ticket sales.

“Loss of air connectivity harms the local economy, hurts investor confidence, and impacts jobs and people’s livelihoods.

“It’s time for the Government of Nigeria to prioritize the release of airline funds before more damage is done.”


Lagos Post Online

Publisher, Lagos Post Online, Lagos Post is an online publication that seeks to provide fair, unbiased, credible, balanced and useful information about Corporate Organisations, Governments and the General Public by breaking news in Business, Politics, Arts, Entertainment, Culture, and Sports in Nigeria, Africa and the World. As a global news portal, we continually stand for responsible journalism and sound media practice. Mobile: +238025837037 Email: lagospostng@gmail.com

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