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Sunday, April 14, 2024

Foreign airlines trapped funds hits $743m 

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Foreign airlines operating in Nigeria trapped fund has risen to $743.7million from $662m in January, 2023.

Senator Hadi Sirika, the minister of Aviation, has assured the International Air Transport Association (IATA) and foreign airlines that the federal government would resolve the blocked funds of the foreign airlines as soon as possible.

The IATA said this on Tuesday, in a letter addressed to the Minister of Aviation, Hadi Sirika, signed by the Area Manager West and Central Africa, Dr. Samson Fatokun.

“For over a year, Nigeria has been the country with the highest amount of airline-blocked funds in the world. Please find attached the comparative table of airlines’ blocked funds by country.

“Moreover, as of January 2023, airlines’ blocked funds in Nigeria have increased to $743.721.092 from $662m in January 2023 and $549m in December 2022.”

The minister of Aviation, Senator Hadi Sirika, however assured IATA and foreign airlines that the federal government would resolve the blocked funds of the foreign airlines as soon as possible

He urged international airline operators to be very considerate when dealing with the issue bearing in mind the effects of Covid-19 and the recession the country had experienced.

 

 

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