The International Air Transport Association (IATA) on Thursday expressed disappointment with Nigeria for withholding foreign airlines’ funds which it put at $464 million.
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It spoke after Emirates Airlines announced the suspension of all Nigerian flights with effect from September 1, 2022, over its trapped $85 million.
IATA’s Regional Vice-President for Africa and the Middle East, Kamil Alawahdi in a statement on Thursday blasted the Nigerian government for allowing the money to hit $464 million as of July.
He said, “IATA is disappointed that the amount of airline money blocked from repatriation by the Nigerian government grew to $464 million in July.
“This is airline money and its repatriation is protected by international agreements in which Nigeria participates. IATA’s many warnings that failure to restore timely repatriation will hurt Nigeria with reduced air connectivity are proving true with the withdrawal of Emirates from the market.
“Airlines cannot be expected to fly if they cannot realize the revenue from ticket sales. Loss of air connectivity harms the local economy, hurts investor confidence, and impacts jobs and people’s livelihoods. It’s time for the Government of Nigeria to prioritize the release of airline funds before more damage is done.”
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