Forex crisis: Emirates reduces flights to Nigeria

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Emirates Airlines has announced a reduction in its weekly flights to Nigeria from 11 to seven per week.

The reduction was contained in a letter addressed to the Minister of Aviation, Hadi Sirika, and dated July 22, 2022.

It said the reduction would take effect from August 11, 2022.

The airline noted that the decision followed the inability to repatriate over $85 million from Nigeria as of this month, despite a meeting with a Central Bank of Nigeria deputy governor and a follow-up letter to the CBN Governor Godwin Emefiele.

It said its bankers in Nigeria as well as the International Air Transport Association had also intervened without any result.

It said furthermore that its aviation has supplier had refused to sell the produce in Naira, adding that it had had to bring in forex to Nigeria.

This had left it in a pool of losses which it could no longer afford, the airline added.

 

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