As Nigeria’s economy shrinks, its biggest airline is looking to expand

At least one airline plans to profit from Nigeria’s recession. The country’s economic downturn has hobbled operations of almost all local and foreign carriers as lower oil prices have resulted in a dearth foreign exchange. Nigeria’s oldest working airline has suspended operations indefinitely while foreign airlines have either pulled out of Nigeria or are considering doing so. Arik Air, Nigeria’s biggest airline, is taking advantage of others’ woes and expanding its routes, plugging gaps created by these exits. The airline plans to start daily flights to New York within the next 2 years; it’s currently flying to New York 3 times a week. It also plans to add new international routes, including to Rome and Paris, which will generate more foreign exchange revenue. <br/>