African: Foreign Airlines Accused of Using Forex Scarcity to Rip off Nigerians, FG

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By Chinedu Eze Foreign airlines operating in Nigeria have been accused of devising a means of ripping off Nigerians and the federal government by taking advantage of the shortage of dollars in the foreign exchange market, and the gap between the official exchange rate and the parallel market rate, THISDAY investigations have revealed. According to sources in the industry and […]

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African Aviation: Foreign Airlines Lose Nigeria’s High Yield Market to Economic Downturn

According to THISDAY, investigations have revealed that foreign airlines lose about $200 million monthly to the present economic crunch in Nigeria, which has forced potential travellers to defer their trips due to lack of disposable income. Also, there is reduction in passenger traffic as cash squeeze has impacted negatively on the purchasing power of the citizens, forcing million to spend […]

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African Aviation: Foreign Airlines Accused of Using Forex Scarcity to Rip off Nigerians, FG

By Chinedu Eze Foreign airlines operating in Nigeria have been accused of devising a means of ripping off Nigerians and the federal government by taking advantage of the shortage of dollars in the foreign exchange market, and the gap between the official exchange rate and the parallel market rate, THISDAY investigations have revealed. According to sources in the industry and […]

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IATA: Nigeria Aviation taxes are too high as $575m Airlines funds trapped

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The International Air Transport Association said that funds belonging to foreign airlines, which had been trapped in the country due to the Federal Government’s policy on foreign exchange, stood at $575m (N113.28bn) as of March this year. The association also bemoaned the high taxes imposed on air travellers in Africa, with Nigeria identified as one of the countries where the […]

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Medview Airlines Lagos-London booms as foreign airlines suffer in Nigeria

NIGERIA’S foreign exchange crisis has taken another huge toll on its air travel industry as cost of air fares on some foreign routes have soared following the recent decision by some foreign airlines to relocate their ticketing and sales offices to Ghana. This was as Spanish national carrier, Iberia Airlines would suspend its Lagos-Madrid operation from May 12, 2016. Leading […]

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Inspite of bad economy, Nigeria spend $4bn on Travels

Revenues from ticket sales by foreign airlines, salary emoluments from expatriate pilots and engineers, and cost of aircraft maintenance overseas have risen to over $4 billion annually, THISDAY checks have revealed. The National Association of Nigerian Travel Agencies (NANTA) disclosed that as much as $2.3 billion was generated by Nigerian travel agents in 2014 from ticket sales for foreign airlines […]

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