There is evidence to suggest that Emirates Airlines' inability to bring the money from its stuck ticket sales account in Nigeria back to its home country in the United Arab Emirates (UAE) may have been a contributing factor in the decision to cease all flights into and out of the country that the airline had previously made.
In a statement released Thursday morning, the airline announced that it would stop operating flights to and from Nigeria beginning on September 1, 2022.
Since the beginning of the year, Nigeria has held at least $600 million worth of funds belonging to over 20 international airlines.
Around two weeks ago, Emirates said it had approximately $85 million in Nigeria derived from these funds.
On Monday, the airline reduced the 11 weekly frequencies it had at Lagos Airport to only seven.
In a statement, the media consultant for the airline in Nigeria said that all efforts to repatriate the monies had proven fruitless. As a result, the company was forced to cease all flights into the nation. The statement was issued in Nigeria.
The following was stated in a statement released by the airline on Thursday: "Emirates has tried every avenue to address our ongoing challenges in repatriating funds from Nigeria, and we have made considerable efforts to initiate dialogue with the relevant authorities for their urgent intervention to help find a viable solution."
"Unfortunately, there has been no advancement on this matter. As a result, Emirates has made the painful decision to halt all flights to and from Nigeria beginning September 1, 2022. This move is being made to minimize future losses and the impact they will have on our operational expenses, which continue to mount in the market.
"We truly apologize for the trouble this situation has created for our consumers; nonetheless, the circumstances are currently beyond our control at this moment. We will make every effort to assist clients who have been negatively impacted in the process of making alternative travel plans.
"Should there be any good developments in the coming days about Emirates' frozen cash in Nigeria, we would of course re-evaluate our position," he said. "[T]here is a possibility that the monies might be released." We are very excited to be of service in Nigeria, and our activities continue to fill a critical connection need for Nigerian travelers. As a result, Nigerians now have access to a wider range of business and vacation possibilities in Dubai and throughout our wider network of over 130 locations.More posts to read
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