Emirates to suspend Nigeria flights from September.
Emirates, a company based in Dubai, announced on Monday that it would stop operating flights to Nigeria as of next month due to a lack of ability to remit money from the continent’s most populated country. The judgment emphasizes the challenges encountered by foreign airlines flying to Nigeria, which is one of their main markets in Africa.
Due to a lack of dollars, the country has limited access to foreign cash for imports and for investors looking to return their earnings. About 90% of Nigeria’s foreign income comes from oil, but production is difficult due to pipeline theft and years of underinvestment.
In June, the International Air Transport Association said that Nigeria was withholding $450 million in profits from foreign airlines operating there.
Emirates said it had made no progress in efforts to initiate dialogue with the relevant authorities for their urgent intervention.”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,” it said in a statement.
An inquiry for information was not immediately answered by a Federal Ministry of Aviation official. Emirates had previously written to the government stating that it would have to stop flying to Lagos this month due to a $85 million debt that was still owed to the nation as of July. This debt had been increasing by $10 million every month.
Emirates declared that it would reconsider its choice if the circumstances surrounding the frozen cash changed in the ensuing days. Wherever feasible, it stated, affected customers would be assisted in making alternate travel plans.