Emirate Airlines says it will reinstate flights to and from Nigeria from September 11 because the Central Bank of Nigeria has released a portion of its blocked fund in the country.
In a statement issued by the Airlines Public Relations Manager, Rula Tadros, on Thursday, Emirates said it welcomes the CBN move to release a portion of “our blocked funds.”
“In light of these developments, Emirates Airlines will reinstate flights to/from Lagos from 11 September, which is the earliest date for us to co-ordinate the smooth and safe resumption of operations. It will also provide travellers sufficient time to plan and book their journeys,” the statement partly read.
The airline said they will continue to engage with the Nigerian authorities to ensure the repatriation of “our outstanding” and future funds may continue without hindrance.
Emirates said, “We constantly review our network operations and will adjust our flying schedules to respond to market demand and other operational factors.”
“We remain keen to serve Nigeria, by providing international connectivity for travelers and businesses to access trade and tourism opportunities in Dubai, and across our broader network of over 130 destinations,” the Airline said.
Existing scourge
The Airlines decision is coming after the CBN announced that it released $265 million to airlines operating in the country to settle outstanding-trapped funds from ticket sales last week Friday.
The move by the apex bank came after Emirates Airlines threatened to halt its operations to and from Nigeria by September 1, due to its inability to repatriate $85 million trapped in Nigeria.
Nigeria’s lingering forex crisis has impacted the aviation sector negatively within the past weeks and months, at a time domestic and international airlines are also grappling with a sharp increase in aviation fuel.
ALSO READ: Airlines cut flights as aviation fuel price skyrockets.
The International Air Transport Association (IATA), the top global trade association of airlines, had also criticised Nigeria’s failure to allow international airlines to repatriate their profits, warning it may cause the country more damage.
According to IATA, the amount airlines have been unable to repatriate from the country rose to $464 million (N199.2 billion) in July.
Meanwhile, the Nigerian government has also threatened to shut down domestic airlines over multi-billion naira debt authorities said the airlines owe.
The Nigerian Civil Aviation Authority (NCAA), the agency that regulates airline operations in the country, said airlines owed the government N19 billion and $7.6 million, and have refused to pay despite receiving the money from customers.
The regulator says airlines must enter an MoU on how they will pay their debts in the next 30 days from August 30 or their licences will be suspended.
Source: Premium Times
