Trapped Funds: Foreign Airlines Plan Meeting With Fed Govt   The Switzerland-based global airline body, International Air Transport Association (IATA) on Sunday warned that rapidly rising levels of blocked funds were a threat to airline connectivity in Nigeria and some affected countries. IATA disclosed that the industry’s...

Aviation Loses $3.5bn Over High Operating Cost, Poor Infrastructure   Operational challenges in the air transport sector in Nigeria and other African countries have been blamed for the loss of $3.5 billion of potential revenue in three years. The International Air Transport Association (IATA), at a special...

IATA Cautions FG as Airlines Trapped Funds Rises to $802m The International Air Transport Association latest report has revealed that the total amount of foreign airlines’ trapped funds in Nigeria has risen to $802m and warned the Nigerian government that the situation could hamper air...

Airfares Rise As Foreign Airlines Hike Exchange Rate   International airfares on Nigerian routes have gone up further by over 20 per cent after foreign airlines raised the exchange rate for ticket sale from N462 per dollar to N551 per dollar. International travellers on Nigerian routes have...

Foreign Airlines Trapped Funds Now $743m – IATA   The International Air Transport Association (IATA) on Tuesday disclosed that the trapped funds belonging to foreign airlines operating in Nigeria have risen by 12.39 per cent to $743,721,097 in January 2023 from $662m in the corresponding period...

Air Travel Increased By 68% In August – IATA   The International Air Transport Association (IATA) has said that air traffic increased 67.7 per cent in August 2022, when compared to what was recorded in the same month in 2021. IATA also stated in its air traffic...