FX scarcity cripples local airlines, spike airfaresBusiness — The Guardian Nigeria News – Nigeria and World News

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FX

‘Airlines should interline, codeshare to survive’ 

The foreign exchange (FX) liquidity crisis is eating deeper into the daily operations of the local airlines, causing airlines’ capacity to dwindle and hitting up airfares.

  
The Guardian, yesterday, learned that operators in the aviation sector have not received FX requests from the Central Bank since February, which explains why multiple airplanes are stuck in maintenance facilities overseas, and a lot more unserviceable and on the ground at airports.  
  
The chairman of United Nigeria Airlines, Obiora Okonkwo, who confirmed the dire straits, said local carriers might have to consider interlining or a codeshare arrangement to cut down the cost of operation and enhance survival chances.
  
But the effect is telling on air travellers, who have to pay more airfares for less than an hour travel time. Fact check yesterday showed that future flights still range between N35, 000 and N55, 000, on one-way Economy Class,…



Source: Guardian Newspaper