Tag: Foreign airlines

Trapped Revenue: British, Ethiopian, Turkish airlines, others might soon leave Nigeria

Aminu Imam

The Central Bank of Nigeria (CBN) has been cautioned by the International Air Travel Association, (IATA), regarding the potential departure of certain foreign airlines from the Nigerian markets. The IATA regional vice-president for Africa & Middle-East, Kamil Alawadhi, conveyed this message during a media presentation held with African journalists at the IATA Global Media Day in Geneva, Switzerland. This warning stems from the existing challenge of $792 million in ticket revenue currently inaccessible within the country. The IATA urged the Nigerian government to expedite actions on the funds It added that…

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US Dollar shortage: Foreign airlines halt tickets sale to Nigeria-bound travellers

Aminu Imam

As the US dollar shortage in the Nigerian economy continues to hit the air travel industry harder, foreign airlines flying into the country have stopped local travel agencies and firms from selling tickets to intending inbound Nigeria passengers. According to reports, the carriers also barred Nigerian travel agencies from selling tickets to intending passengers whose travel itineraries neither originate nor terminate in Nigeria. This is known in air travel parlance as ‘SOTO ticket’, meaning Sold-Out, Ticketed-Out. The move is currently affecting many Nigerian students abroad who are seeking to buy…

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