Report: Foreign Airlines Announce Plan To Begin Sales of Tickets in US Dollars, Give Reasons
- International airlines operating in Nigeria are reportedly planning to sell their tickets in dollar
- The decision is in reaction to the rising trapped funds yet to be cleared with the Central Bank of Nigeria
- Nigeria is Africa's most populous country, making it an important destination for over 22 foreign airlines
Legit.ng journalist Dave Ibemere has over a decade of experience covering Tech, Energy, Stocks, Investments, and the Economy.
Some foreign airlines in Nigeria have reportedly announced plans to sell tickets in US dollars.
They hope the move will help reduce the existing challenge of trapped ticket revenue currently inaccessible within the country.
Source: Getty Images
In December 2023, the International Air Transport Association (IATA) stated that the total airlines' trapped funds were $792 million.
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Airlines plan to sell tickets in dollar
Newstelegraph reports that the foreign airlines made their intention known on Saturday, January 6, 2023.
The report added that the Nigerian officials accepted the plan to sell in dollars as a win-win tactic to appease foreign airlines that had threatened to withdraw from Nigerian airspace.
Qatar Airlines is said to have already implemented dollar ticket sales, while other foreign airlines will follow suit soon as activities resume fully in the new year.
Legit.ng reported that Turkish Airlines, Emirate Airlines, British Airways, and a host of foreign airlines recently warned of their imminent exit from Nigeria if funds trapped in the country were not released soon.
Air Peace speaks on a 50% discount on flight tickets for Christmas season
In related news, Legit.ng reported that Air Peace has refuted claims suggesting a reduction in airfares for Yuletide travel across the country.
The airline responded to speculations that President Bola Tinubu had negotiated a 50% discount agreement with Air Peace for passengers on all routes.
These unverified reports may have surfaced following revelations of the Federal Government's discussions with the Airline Operators of Nigeria (AON) to address the soaring costs of air travel.
The government's initiative comes in light of the acknowledgement that airlines had recently raised their flight ticket prices by up to 100%, citing prevailing economic challenges.
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Source: Legit.ng
