United, Iberia Airlines pull out of Nigeria; funds blocked
US airline United and Spain's Iberia are pulling out of Nigeria as the government is urged to release more than $600m in air ticket sales blocked by the West African nation's chronic foreign currency shortage. The IATA's regional manager flew to the capital, Abuja, this week to negotiate with the government after the organisation representing airlines warned: "The inability of airlines to access forex in Africa's largest economy, if not solved, will affect air transport services to, from and within Nigeria and undermine the country's position as West Africa's aviation hub." United spokesman Kevin Johnston confirmed Wednesday that the airline's last flight from Lagos to Houston is June 30. Nigeria is United's only destination in Africa. Iberia left in May, citing "very difficult operating circumstances and dwindling passenger numbers." Most foreign airlines have stopped accepting Nigeria's troubled naira currency after the government stopped their access to foreign exchange from the banks last year. The crisis is blamed mainly on slumping oil prices and the government's delay in devaluing the naira, officially set at 199 to the dollar but selling at currency exchanges at 350.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-06-09/star/united-iberia-airlines-pull-out-of-nigeria-funds-blocked
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United, Iberia Airlines pull out of Nigeria; funds blocked
US airline United and Spain's Iberia are pulling out of Nigeria as the government is urged to release more than $600m in air ticket sales blocked by the West African nation's chronic foreign currency shortage. The IATA's regional manager flew to the capital, Abuja, this week to negotiate with the government after the organisation representing airlines warned: "The inability of airlines to access forex in Africa's largest economy, if not solved, will affect air transport services to, from and within Nigeria and undermine the country's position as West Africa's aviation hub." United spokesman Kevin Johnston confirmed Wednesday that the airline's last flight from Lagos to Houston is June 30. Nigeria is United's only destination in Africa. Iberia left in May, citing "very difficult operating circumstances and dwindling passenger numbers." Most foreign airlines have stopped accepting Nigeria's troubled naira currency after the government stopped their access to foreign exchange from the banks last year. The crisis is blamed mainly on slumping oil prices and the government's delay in devaluing the naira, officially set at 199 to the dollar but selling at currency exchanges at 350.<br/>
