Dubai’s Emirates Airline has announced that it will resume flight operations to and from Lagos after the Central Bank of Nigeria released part of its trapped funds.
Emirates made the announcement in an update on its website, stating that the reinstatement will be effective from September 11, 2022. However, the airline did not state how much funds were released nor the funds remaining blocked.
This step by the state-owned carrier followed the CBN’s release of $265 million to airlines operating in Nigeria in settling outstanding ticket sales.
The airline last month declared that it will suspend it flight operations to Nigeria as it was unable to repatriate its earned revenue, a move it took to cap increasing operational costs and losses.
The released funds by the Central Bank of Nigeria came at the right time as it will check the brewing crises in the country’s aviation sector. Hopefully, the pressure on other airlines will also dial down.
What the airline is saying:
‘’Emirates welcomes the Central Bank of Nigeria’s move to release a portion of our blocked funds, and we continue to engage with the Nigerian authorities to ensure the repatriation of our outstanding and future funds may continue without hindrance.’’
‘’In light of these developments, Emirates will reinstate flights to/from Lagos from 11 September, which is the earliest date for us to coordinate the smooth and safe resumption of operations. It will also provide travelers with sufficient time to plan and book their journeys.’’
The airline also reiterated its effort to review its network operations and adjust its flying schedules to respond to market demand and other operational factors.
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