The International Air Transport Association, IATA, has exposed the President Muhammadu Buhari Federal Government for intentionally breaching International agreements with its local policies, expressing major disappointment with the Federal Government over the amount of earned funds by International Airlines which have been blocked from repatriation to their home countries, despite their demands,
The IATA said that the amount blocked by the Nigerian government had grown to $464 million, as at July 2022.
In a statement by its Regional Vice President for Africa and the Middle-East, Kamil Alawahdi, on Thursday, it said: “IATA is disappointed that the amount of Airline money blocked from repatriation by the Nigerian government grew to $464 million, in July.
“This is Airline money, and its repatriation is protected by International agreements in which Nigeria participates. IATA’s many warnings that failure to restore timely repatriation will hurt Nigeria with reduced air connectivity, are proving true with the withdrawal of Emirates from the Market.
“Airlines cannot be expected to fly, if they cannot realise the revenue from ticket sales. Loss of air connectivity harms the local economy, hurts investor confidence, and impacts jobs and people’s livelihoods. It is time for the government of Nigeria to prioritise the release of Airline funds before more damage is done.”
The IATA Leadership at its recent Annual General Meeting, in Doha, Qatar, lamented how the inability of the Airlines to repatriate their funds had affected their operational cost.
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