Aviation
By Kennedy Nnamani
EMIRATES Airlines has fulfilled its warning to reduce its flights operations in Nigeria due to the inability of the airline to repatriate its funds from Nigeria.
According to a statement on Thursday, Emirates said it would halt all its flights to Nigeria and this action takes effect from September 1, 2022.
However, the airline assured that it might review its decision if there is any positive development in the coming days.
“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,” the statement read.
Expressing its displeasure about its actions, the airline added “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.”
According to Daily Trust, other airlines may also follow suit as blocked funds belonging to foreign airlines have hit over $600 million which they are unable to repatriate as the Central Bank of Nigeria, CBN, could not meet airlines’ request for dollars.
In line with the bilateral air service agreements, BASAs, foreign airlines are expected to issue their tickets in naira while the CBN provides the dollar equivalent for repatriation to their home countries.
Prior to the suspension, Realnews reported on August 1, that the Emirates Airline, through a letter to Hadi Sirika, the Nigerian minister for aviation, had warned that it would reduce its operations in Nigeria from August 15, 2022 “to mitigate the continued losses Emirates is experiencing as a result of funds being blocked in Nigeria”.
The letter disclosed that “as of July 2022, Emirates has US$ 85 million of funds awaiting repatriation from Nigeria.
Tags: Daily Trust Emirates Airline Hadi Sirika Kennedy Nnamani Realnews
