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Foreign airlines may lose about 45 per cent of their over N119. 4 billion ($600 million) trapped in Central Bank of Nigeria if Naira is finally devalued
According to Thisday, the airlines would lose substantial value of their earning, a development, which could trigger another wave of outrageous fares in their bid to recover the lost funds.
Industry analyst and CEO of Aglow Limited, Tayo Ojuri said the huge revenues would lose value and would affect the disposition of the airlines about doing business in Nigeria, adding that some of the airlines would be extremely reluctant to do business in the country, while others, especially those that had operated long in Nigeria would wait out the “bad time”.
“Some of the airlines will still continue to do business in Nigeria because we have huge population and we are a big market”, Ojuri said.
Source: THISDAY
According to Thisday, the airlines would lose substantial value of their earning, a development, which could trigger another wave of outrageous fares in their bid to recover the lost funds.
Industry analyst and CEO of Aglow Limited, Tayo Ojuri said the huge revenues would lose value and would affect the disposition of the airlines about doing business in Nigeria, adding that some of the airlines would be extremely reluctant to do business in the country, while others, especially those that had operated long in Nigeria would wait out the “bad time”.
“Some of the airlines will still continue to do business in Nigeria because we have huge population and we are a big market”, Ojuri said.
Source: THISDAY
