A total of fourteen airlines have reportedly withdrawn their services from Nigeria due to the increased fall of the nation’s currency against the greenback.
The airlines cited low patronage and the current state of economy as the reason behind the latest development.
Some of the listed airlines which were said to have lost about N64 billion following the crash in the nation’s exchange rate and currency value hence the pull out include Spanish-owned Iberia airlines, United Airlines and Air Gambia among others.
The President of the National Association of Nigeria Travel Agencies (NANTA), Bankole Bernard, while speaking on the development said the new policy initiate by the Central Bank of Nigeria coupled with the current economic crunch in the country had severely affected travel agencies and airlines.
He further noted while speaking at the Aviation Round Table, ART, breakfast meeting held in Lagos that more airlines might pull out of flying Nigerian routes soon.
He further disclosed that more travel agencies are considering moving business to Ghana where “their policies are consistent”.
Further speaking on the matter, Bernard blamed the President Muhammadu Buhari-led administration for its inconsistent economic plans especially in the area of naira devaluation.