There are emerging indications that Dubai based global airline, the Emirate may suspend its operations in Nigeria any time this month due to irregularities in foreign currency repatriation policy.
It would be recalled that the airline had few days ago apparently ignored acceptance of naira in purchase of tickets for Brazil flights which was latter resolved, but the situation still lingers.
Though the company had maintained sealed lips on the speculations, analysts say the lingering inability of the foreign airlines to get the dollar equivalent of the money is frustrating many of them and that if care is not taken, some of them including Emirate will be forced to suspend its operation in Nigeria.
Emirates is Dubai-based airline in the United Arab Emirates and a subsidiary of the Emirates Group, which is wholly owned by the government of Dubai’s Investment Corporation of Dubai.
The group remains the largest airline in the Middle East, operating over 3,600 flights per week from its hub at Dubai International Airport, to more than 154 cities in 81 countries across six continents; even as cargo activities are undertaken by Emirates Sky Cargo. Emirates airline operates a mixed fleet of Airbus and Boeing wide-body aircraft and is one of the few airlines to operate an all-wide-body aircraft fleet. It would be recalled that the Central Bank of Nigeria (CBN) had last week approved a Special Secondary Market Intervention Retail Sales (SMIS) for airlines operating in the country. But findings still suggest that repatriation of profits is still cumbersome in several quarters.
