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Aviation Crisis: Trapped funds not peculiar to Nigeria-Ohunayo

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Emirates Airlines has announced the suspension of its flight operations to Nigeria, starting from September 1st, 2022.

The flag carrier of the United Arab Emirates (UAE) disclosed this in a statement on Thursday, citing the inability to repatriate its earnings in foreign exchange from Nigeria.

The airline said the suspension would limit further losses and reduce the impact on its operational costs that continue to accumulate in the Nigerian market.

In a letter addressed to the minister and signed by Emirates Airline’s Divisional Senior Vice-President, International Affairs, Sheik Majid Al Mualla, the airline said the planned reductions in its operations in Nigeria would take effect from August 15, 2022, adding that flights would be reduced from 11 per week to seven per week at the Murtala Muhammed International Airport Lagos.

The suspension of flight operations to Nigeria by Emirates airlines is coming about three weeks after the airlines appealed to the Minister of Aviation, Hadi Sirika, to support the repatriation of its revenue said to be $85 million.

The suspension also comes amidst the overnight increase in the price of aviation fuel otherwise known as Jet A1 as the price hit N903 per litre on Wednesday, from N880 on Monday.

To analyze the current crisis in the aviation sector, Olumide Ohunayo, assistant secretary general, Aviation Round Table initiative joins me on the news. Thank you for joining me.




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