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Emirates plans to reduce flights to Nigeria – Letter – SABC News

According to a letter to the government, Emirates plans to reduce the number of flights to Nigeria this month.

The Dubai-owned airline will reduce the number of flights to commercial capital Lagos from 11 to seven a week amid difficulties in repatriating revenue, according to the letter.

Emirates added that it was stuck with $85 million in Nigeria in July – a figure that had risen by $10 million a month.

In June, the International Air Transport Association said Nigeria was withholding hundreds of millions in revenue earned by international airlines operating in the country.

That’s because the central bank is restricting access to foreign currency to address a severe dollar shortage.

Nigeria gets about 90% of its foreign exchange from oil but has struggled with production due to pipeline theft and years of underinvestment.

Industry watchers said more airlines could follow Emirates’ lead if the central bank doesn’t address its concerns.

Amid similar foreign exchange restrictions in 2016, several airlines reduced flights and two grounded their flights to Nigeria altogether.

A spokesman for Nigeria’s Air Ministry did not respond to a request for comment.

In a statement, Emirates said problems repatriating funds were affecting economic viability in Nigeria and efforts to resolve the issue had met with limited success.

It didn’t comment directly on the letter but said it hoped to go ahead with a busy schedule.

Emirates plans to reduce flights to Nigeria – Letter – SABC News

Source link Emirates plans to reduce flights to Nigeria – Letter – SABC News

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