TUE DEC 10 2024-theGBJournal| The International Air Transport Association (IATA) Monday published the list of Governments blocking airlines funds, and for the first in a long while, Nigeria is missing in the list.
The Federal Government, earlier in the year cleared all revenue backlogs that were due foreign airlines, clearing the way for a more friendly engagement with countries like the UAE (Emirates) that suspended flights banned visa issuance to Nigerians.
Meanwhile, the airlines watchdog said over the last six months, it has seen significant reductions in blocked funds in countries such as Pakistan, Bangladesh, Algeria, Bolivia and Ethiopia, causing the total blocked fund to drop from $1.8 billion reported at the end of April to $1.7 billion.
According to IATA, nine countries account for 83% of the airline industry’s blocked funds, amounting to $1.43 billion.
This unfortunate game of ‘whack-a-mole’ is unacceptable. Governments must remove all barriers for airlines to repatriate their revenues from ticket sales and other activities in accordance with international agreements and treaty obligations,” said Willie Walsh, IATA’s Director General.
“No country wants to lose aviation connectivity, which drives economic prosperity. But if airlines cannot repatriate their revenues, they cannot be expected to provide a service. Economies will suffer if connectivity collapses. So, it is in everyone’s interest, including governments, to ensure that airlines can repatriate their funds smoothly,” said Walsh.
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