Citing Nigeria’s slowing economy amid scarcity of foreign exchange,international airlines that operate to different destinations in the country plan to reduce flights to Nigeria from early 2016, THISDAY investigations have revealed.

The airlines, according to sources, are aggrieved that they cannot exchange billions of revenue in Naira in their possession to dollars and repatriate to their various countries because of the new fiscal policies of the Central Bank of Nigeria (CBN).

The International Air Transport Association (IATA), recently pleaded with the Governor of CBN, Godwin Emiefele to intervene in the matter and make dollars available to the airlines. Nothing has been done yet; although he gave assurances to the world body, a close source told THISDAY.

The foreign airlines also had met with the Minister of Transportation, Chibuike Amaechi and urged him to look into their case but nothing concrete has been done on the matter.

THISDAY gathered that from March 2016, British Airways would reduce its flights to Nigeria by bringing in aircraft with smaller capacity than the traditional Boeing 747, which operates the lucrative Lagos-London route.

It was also gathered that other foreign airlines may either change their aircraft type and operate ones with smaller capacity or reschedule and reduce the number of flights to Nigeria and those which have not been recording high load factor in the Nigerian route may stop flights to the country.

An informed source from one of the major international airlines, which operate daily to Lagos told THISDAY that next year would be scary because things are not looking so good.

“The situation is scary. Things are not looking so good. Some parents whose children are in school overseas are considering withdrawing them as our economy, which has become the strongest economy in Africa is grinding to a halt. We don’t want to make our plan to reduce operations public because we don’t want to cause any panic. This will affect everybody; it is going to also affect my staff because some of them might lose their jobs. BA will definitely reduce service; it is a decision we must have to take,” the source said.

The source noted that failure to repatriate the airline’s revenue is affecting aircraft leases and fuelling as the money so generated is used to pay for fuel and renew aircraft leases.

“We have so much money which cannot be released because there is no foreign currency. Now, we cannot accept dollars from passengers; unless they are paying with credit cards, so if a passenger comes to buy ticket with dollars we will not accept because of the new policies. I do not believe that they want to make us suffer but they should have directed these policies to the areas where they import toothpick, glasses and others, not on air transport and other sectors that are critical for the economy to thrive and grow. It is not only BA that will reduce its operation; every international airline will reduce something,” the source also said.

The source also suggested that CBN should endeavor to provide foreign exchange to the essential service sector so that the economy would not grind to a halt.

“I am worried about all these but we have to be seen to be supporting government so I do not wish to raise any alarm, but the truth has to be said. We need prayers right now; we need to pray for those in government for them to have wisdom to take the right decision for this country,” the source also said.

The source said that marketers had dropped notice that airlines would start paying for aviation fuel in dollars from next year.
“Without fuel, how can we operate? The situation is very scary,” the source added.



Source - Thisday

source: www.lailasblog.com/2015/12/international-airlines-to-reduce.html?m=1

Also see www.sincerenigerian.com

Hehehehehehehehe! This change is catapulting us into another realm of sufferness.. Had it been I voted for change





Naija wich way

oh Lord!

Everybody quits Naija; is Amaechi aware of this development?

Zoogeria is doomed

I unfollowed all boards and became a ghost member for a year now.

The situation of the country made me like that.

But I noticed things aren't getting better

We lie that things would get better

But they aren't

I'm not supporting or aligning myself with the wailing wailers but I'm saying we need a better change.

Youth need active participation in politics.

This God forsaken men ruled this country at the early stage of their life and still come back to rule us at this old stage

We youth should ask ourselves when we would free ourselves from this slavery

We need the Revolution. Common or uncommon sense

We need revolution.

I believe in Nigeria ruled by Youths. I am a leader of tomorrow but when would 'tomorrow' happen?

Change

Fake news

watching

*In NgeneUkwenu voice *Another propaganda from PDP and IPOB . Ndi ara!

Welcome to CHANGE
APC zombies will still call it fake news


www.thisdaylive.com/articles/international-airlines-to-reduce-flights-to-nigeria-next-year/228856/

Go to London and buy your tickets with dollars and see the kind of rejection you will get. It is the right direction. Naira shall stand the effort to make 1 # to a dollar continues.

Emefiele has successfully created a Venezuela out of Nigeria.

Same policies, same results.

In Lai Muhammad's voice " blame Goodluck Jonathan"

Descartes:
*In NgeneUkwenu voice *Another propaganda from PDP. Ndi ara!

... I wonder what kind of name Ngeneukwenu is, is the person from Somalia, is the person male or female.. I have been wondering what that name mean

Sai Buhari

Sai APC

I don't comment on Nigeria affairs because I am not a Nigerian

ibb1993:
I don't comment on Nigeria affairs because I am not a Nigerian

Lucky are those not born of the Zoo

ibb1993:
I don't comment on Nigeria affairs because I am not a Nigerian

Biafrans will not kill us on nairaland

Meanwhile, A nation will not grow if after any region backed a candidate and such candidate losses the election and the next thing to call for is secession.
It's doesn't portray political maturity.

it shall not be well with the so call international airline.
nonsense.

if you cnt deal with our naira, then Bleep off our airspace.



can we tender Naira to buy flight ticket in Uk/USA. will it be accepted.

yet you want us to accept your own currency in our country.

you see them talking about repatriatin fund to their country.

if you must repatriate fund back to you country, them go with Naira and exchange it in your country.

Naira must be strengthened.
outright ban on dollar/pound spending be impose.

paying for jet fuel in dollars here in nigeria should not be accepted, they should exchange their dollar to naira and pay the marketers in naira, this are tinz that will help strengthen our Naira.

we have accept all their rubbish over the years, but now it time we take our stand.


African should stand tall and face the devilish white people to their face, we should stop fueling white man economy at the detriment of our own.


Just like Zimbabwe adopt the spending of Chinese YEN as a ledger tender in their country just because of $40billion debt.

jcflex:

it shall not be well with the so call international airline.
nonsense.

if you cnt deal with our naira, then Bleep off our airspace.



can we tender Naira to buy flight ticket in Uk/USA. will it be accepted.

yet you want us to accept your own currency in our country.

you see them talking about repatriatin fund to their country.

if you must repatriate fund back to you country, them go with Naira and exchange it in your country.

Naira must be strengthened.
outright ban on dollar/pound spending be impose.

paying for jet fuel in dollars here in nigeria should not be accepted, they should exchange their dollar to naira and pay the marketers in naira, this are tinz that will help strengthen our Naira.

we have accept all their rubbish over the years, but now it time we take our stand.


African should stand tall and face the devilish white people to their face, we should stop fueling white man economy at the detriment of our own.


Just like Zimbabwe adopt the spending of Chinese YEN as a ledger tender in their country just because of $40billion debt.

I agree with you. The Zimbabwe nonsense is just the effect of a spiteful old man that has run out of ideas and refuse to die or let someone else come in.

baby124:

I agree with you. The Zimbabwe nonsense is just the effect of a spiteful old man that has run out of ideas and refuse to die or let someone else come in.

Yea you are right.

That why it pain me some time when we youth that are suppose to support this good initiative and uplift it are the one complaining, jst bcus of today without looking into the future

Not that all PMB policy are ok, but this one. on our Naira I think is for the betterment of our economy, for you to see the white men complaining. no be small thing.

Nigeria shall be great again

ZZ22:
... I wonder what kind of name Ngeneukwenu is, is the person from Somalia, is the person male or female.. I have been wondering what that name mean

It means ......born out of rape!

Don't mind the crazy foreign airlines abi na international as if dem dey agree collect Dollar for Europe...
Dats the reason I love M.Gadaffi becos during him time Dollar ,Euro is not allowed and yet 1$=2 Dinas...

baby124:

I agree with you. The Zimbabwe nonsense is just the effect of a spiteful old man that has run out of ideas and refuse to die or let someone else come in.

You that has been using Dollar for eternity, what happened to your own ideas?
Or did Dollar fall from Heaven? Isn't it another country's currency?

The worst of all idiocy is not being able to know who your enemy is.

Your own country is fast heading into recession and you are pointing fingers to another one.

slimfit1:
Go to London and buy your tickets with dollars and see the kind of rejection you will get. It is the right direction. Naira shall stand the effort to make 1 # to a dollar continues.

1 naira to 1 dollar seems to be heading towards the opposite direction at the moment.

Tell me, is the dollar going to suddenly turn around on its own and start heading back to 1 naira value?

In a bid to tell yourself that you did well by voting Buhari, things suddenly crowded your head and reasoning became a difficult task. Then you deny yourself of the fact that things are not what you expected. Smh

It's not too late to help yourself.
I don't care who the President is or who voted him.. My point is that things are getting worse on daily basis and knowing the kind of people in Nigeria, it's not going to get better any time soon.

When corruption money no longer find it way out this foreign countries comes up with excusess and threat . They had better go fork they self. This change and more stringent policy are coming. NIGERIA WILL BE GREAT AGAIN.

Strict policies...our government is forcing it down our throat ...and the RICH keep crying...

The POOR have stopped crying because they have been crying since time memorial and they are use to it....It's feels nice to realise the RICH are not comfortable too...I think the Inequality between the RICH and the POOR is getting shortened. I Stick with #EmefieleEconomics

richybanky:

Biafrans will not kill us on nairaland

Meanwhile, A nation will not grow if after any region backed a candidate and such candidate losses the election and the next thing to call for is secession.
It's doesn't portray political maturity.

my neighbors hated me because I was busy supporting buhari we were in a vehicle to abj when I said Jonathan is a failure they all wanted to fight me calling me APC I gave every support to pmb but now I want my country

ibb1993:
my neighbors hated me because I was busy supporting buhari we were in a vehicle to abj when I said Jonathan is a failure they all wanted to fight me calling me APC I gave every support to pmb but now I want my country

It is well Bro but to be sincere wit u, I don't tink u can have ur country under Buhari regime, maybe Biafra can come under civilian president not under dis military/dictator one

Good move by the CBN governor.
The naira is on a free slide same to most currencies in africa including SA and Ghana.

The happiness of the whole Nigeria is better than the happiness of some few.
Imagine accepting dollar in Nigeria?when does dollar become the official currency.
If Nigeria is that lucrative, they should start accepting naira.

The likes of arik and other Nigeria airlines should be given more international flight permission