Airlines might exit Nigeria over trapped funds – IATA warns

Airlines might exit Nigeria over trapped funds – IATA warns

The International Air Transport Association has warned that Airlines might quit operations over $802 million trapped funds in Nigeria.The Switzerland-based Airlines Association, IATA, warned the Nigerian government that the situation could hamper air connectivity, economic growth, and the development of the country’s aviation sector.Willie Walsh, the Director-General of IATA, spoke on Monday while launching “Focus Africa”, a new initiative to strengthen aviation’s contribution to Africa’s economic and social development.The project will also improve passengers’ and shippers’ connectivity, safety, and reliability.“Airlines may be forced to reduce their service in the countries blocking funds; this is a significant issue to airlines and IATA. It can affect African aviation’s growth,” Walsh noted.It was gathered that IATA Chairperson-designate and RwandAir Chief Executive Officer Yvonne Makolo had disclosed that Nigeria has the highest blocked funds in Africa and the world.She expressed that the total amount of blocked funds in Africa is $1.6bn, of which Nigeria has $802 million.

Source: Airlines might exit Nigeria over trapped funds – IATA warns

 - NigerianEye

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