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Tag: Airlines

Foreign travellers to price tickets N770/$1 from N663/$1
News

Foreign travellers to price tickets N770/$1 from N663/$1

      There are compelling indications that global airfares, particularly on Nigerian routes, may experience a significant increase as the International Air Transport Association has set the exchange rate of $1 to N770 on Wednesday. The protracted inability of international airlines to repatriate their ticket sales for a significant duration has been a contributing […]

Foreign airlines increase airfare by 20%
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Foreign airlines increase airfare by 20%

          Findings has revealed that International airfares has increased by 20% after foreign airlines raised the exchange rate for ticket sale from N462 per dollar to N551 per dollar. According to The PUNCH, foreign passengers flying on Nigerian routes have been paying higher costs after airlines restricted their inventory of lower-cost […]

Logo of the International Air Transport Association
Business

Foreign airlines stranded funds hit $743m

The International Air Transport Association revealed on Tuesday that the foreign airline funds trapped in Nigeria have increased from $662m in January 2023 to $743,721,09. This was according to a letter addressed to the Minister of Aviation, Hadi Sirika, and accessed by The Punch. The letter was signed by the Area Manager West and Central […]

Air Peace
Business

Air Peace leads domestic flight operations in 2022 – Report

A domestic and international airline in Nigeria, Air Peace, leads other domestic airlines as it records 24,449 flight operations. This is the highest flight operations followed by 10,910 operations of IBOM airline. This was according to the Executive Summary of International and Domestic Flight Operations in Nigeria from January to December 2022 gotten from the […]

Aviation

Foreign airline trapped funds hit $550m

The trapped funds belonging to foreign airlines have now increased to $550million, despite the recent intervention of the Central Bank of Nigeria to clear part of the funds.   The International Air Transport Association made this known on Tuesday, affirming that the fund is about half of the $1.1bn blocked funds in Africa and the […]

IATA welcomes CBN's release of $265m to airlines
Aviation

IATA welcomes CBN’s release of $265m to airlines

The International Air Transport Association hailed the Central Bank of Nigeria for releasing 43% of trapped funds to international airlines. AM Business had reported that CBN last weekend released $265million, being part of the over $464 million belonging to the foreign airlines. Foreign airlines collect Naira for their tickets from customers and exchange the same […]

Flights to South-South most expensive - NBS
Aviation

Grant special waivers to airlines, expert tells FG

The Chairman of the Association of Approved Aviation Training Organisations in Nigeria, Mr Bankole Bernard, has called on the government to grant special waivers to airline operators as a means of saving the aviation sector. The aviation sector in recent weeks has been rocked with various complaints from passengers over the high cost of flight […]

IATA welcomes CBN's release of $265m to airlines
Aviation

Foreign airlines kick as FG blocks $450m ticket revenue

The International Air Transport Association has expressed concern over the decision by the Federal Government of Nigeria to block foreign airlines from repatriating ticket sales revenue running to $450m (N188.6bn) into their respective countries. IATA, the Geneva-based trade body representing over 200 international carriers, spoke at a press briefing marking the opening of its 78thn […]