Emirates Suspends all Nigerian Flights Over $85Million Trapped Funds

The Emirates Airlines on Thursday morning said that it would suspend flights from Nigeria effective September 1, 2022.

The airline reached the decision due to its inability to repatriate its funds from Nigeria. The airline had in a leaked letter to the Minister of Aviation, Senator Hadi Sirika, said it would reduce its frequencies in Nigeria from eleven to seven by mid August, over its trapped $85Million in Nigeria.

Other airlines may also follow suit as blocked funds belonging to foreign airlines have hit over $600m which they are unable to repatriate as the Central Bank of Nigeria (CBN) could not meet airlines’ request for dollars.

Your Friends Also Read:  Ten National Anthem Histories in Africa

In line with the bilateral air service agreements (BASAs), foreign airlines are expected to issue their tickets in Naira while the CBN provides the dollar equivalence for repatriation to their home countries.

Emirates said it would halt all its flights to Nigeria, adding it might re-evaluate its decision if there was any positive development in the days ahead.

“Emirates has tried every avenue to address our ongoing challenges in repatriating funds from Nigeria, and we have made considerable efforts to initiate dialogue with the relevant authorities for their urgent intervention to help find a viable solution.

“Regrettably there has been no progress. Therefore, Emirates has taken the difficult decision to suspend all flights to and from Nigeria, effective 1 September 2022, to limit further losses and impact on our operational costs that continue to accumulate in the market.

Your Friends Also Read:  Party of Ousted Burkina Faso President Kabore Demands His Release

“We sincerely regret the inconvenience caused to our customers, however the circumstances are beyond our control at this stage. We will be working to help impacted customers make alternative travel arrangements wherever possible.

“Should there be any positive developments in the coming days regarding Emirates’ blocked funds in Nigeria, we will of course re-evaluate our decision. We remain keen to serve Nigeria, and our operations provide much needed connectivity for Nigerian travellers, providing access to trade and tourism opportunities to Dubai, and to our broader network of over 130 destinations,” it added.

All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from News Central TV.
Your Friends Also Read:  Talented Young Kano Girl Awarded World Bank Scholarship

Contact: digital@newscentral.ng


Leave a Reply

Previous Article

South African Unions Announce Strike Action to Protest Rising Cost of Living

Next Article
President Buhari Arrives Borno to Commission Projects (News Central TV)

President Buhari Arrives Borno to Commission Projects

Related Posts
Powered by Live Score & Live Score App