Foreign airline operators threaten to leave Nigeria over exchange rate

dimeji akinloye

November 2, 2016 8:29 PM

The airline operators said they have not benefited from the concession granted to them to access Forex.

FILE PHOTO: Emirates Airlines aircrafts are seen at Dubai International Airport, United Arab Emirates May 10, 2016. REUTERS/Ashraf Mohammad/File photo

Foreign airline operators in the country have said they would close down if the current

On Wednesday, November 2, the Association of Foreign Airlines' Representatives in Nigeria (AFARN), warned the Federal government that more of its member airlines could close shops soon.

The association said its members have not benefited from the concession granted to them to access foreign exchange at the inter-bank foreign exchange market.

Speaking to newsmen in Lagos, President of the association, Mr Kingsley Nwokoma, said the exchange rate is gravely affecting their operations.

"There are so many units that make up the industry and collaboration is key to moving the industry forward. We want performance but we must drive safety with it," Nwokoma said.

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He, therefore, urged the Federal Government to move quickly in providing foreign exchange to the local and foreign airlines to avoid more business shutdown.

dimeji akinloye