Citing Nigeria’s slowing economy amid scarcity of foreign exchange,international airlines that operate to different destinations in the country plan to reduce flights to Nigeria from early 2016.
The airlines, according to sources, are aggrieved that they cannot exchange billions of revenue in Naira in their possession to dollars and repatriate to their various countries because of the new fiscal policies of the Central Bank of Nigeria (CBN).
The International Air Transport Association (IATA), recently pleaded with the Governor of CBN, Godwin Emiefele to intervene in the matter and make dollars available to the airlines.
The foreign airlines also had met with the Minister of Transportation, Chibuike Amaechi and urged him to look into their case but nothing concrete has been done on the matter.
It was also gathered that other foreign airlines may either change their aircraft type and operate ones with smaller capacity or reschedule and reduce the number of flights to Nigeria and those which have not been recording high load factor in the Nigerian route may stop flights to the country.