Alternative Africa

Top Menu

  • Home
  • About Us
  • Privacy Policy
  • Terms of Use
  • Contact Us

Main Menu

  • Home
  • Arts & Culture
  • Business
  • Environment
  • Politics
  • Sports
  • Reports
    • Africa-Observers
      • Read Reports
      • Submit a story
  • MORE
    • Health
    • News Now
    • World
    • Technology
Sign in / Join

Login

Welcome! Login in to your account
Lost your password?

Lost Password

Back to login
  • Home
  • About Us
  • Privacy Policy
  • Terms of Use
  • Contact Us

logo

Alternative Africa

  • Home
  • Arts & Culture
  • Business
  • Environment
  • Politics
  • Sports
  • Reports
    • Africa-Observers
      • Read Reports
      • Submit a story
  • MORE
    • Health
    • News Now
    • World
    • Technology
  • Scientists discover the fossil of 66-million years old Coelacanth fish in Morocco

  • Morocco receives additional one million doses of AstraZeneca vaccines as vaccination nears 3m

  • Divorce: Court orders husband to pay ex-wife £5,500 for five years as fee for housework

  • 5 Africa-born designers open digital Milan Fashion Week

  • South Africa to spend $712 million on national vaccination drive

BusinessNews Now
Home›Business›Nigeria clears $600 million debt owed international airlines-IATA

Nigeria clears $600 million debt owed international airlines-IATA

By alternativeafrica
June 5, 2018
650
0
Share:

London, June 5, 2018 (AltAfrika)-The International Air Transport Association on Tuesday said Nigeria has repatriated the $600 million, belonging to international airlines that was trapped in the country due to foreign exchange shortages.

The Director-General of IATA, Mr Alexandre de Juniac, on its website gave the credence at the 74th IATA Annual General Meeting and World Air Transport Summit in Sydney, Australia.

The News Agency of Nigeria reports that the funds were airlines’ ticket sales and other allied activities which the country could not repatriate due to fall in crude oil earnings in late 2016 and early 2017.

According to de Juniac, we have had some recent success. The 600 million dollars backlog in Nigeria has been cleared. And we have made 120 million dollars of progress from a peak of over 500 million dollars in Angola.

“I encourage the government of Angola to work with airlines to help to reduce this backlog further,’’ he said.

de Juniac called on governments yet to clear theirs to abide by international agreements and treaty obligations to enable the airlines to repatriate their funds.

According to him, the amount of airline funds blocked in 16 countries totalled 4.9 billion dollars at the end of 2017.

He said that five out of the 16 countries which owed the airlines included Venezuela ($3.78 billion), Angola ($386 million), Sudan ($170 million), Bangladesh ($95 million) and Zimbabwe ($76 million).

“The connectivity provided by aviation is vital to economic growth and development. Aviation supports jobs and trade, and helps people to lead better lives.

“But airlines need to have confidence that they will be able to repatriate their revenues in order to bring these benefits to markets,’’ de Juniac said.

SHARE ON:
Previous Article

Rwanda, World Bank sign $100 million agreement ...

Next Article

Ethiopia ends state of emergency

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

alternativeafrica

Related articles More from author

  • News Now

    UK chooses Brexit to build ties with Africa-official

    October 18, 2019
    By alternativeafrica
  • News Now

    Nigeria: MFM suspends pastor who impregnated 16 year-old girl

    June 3, 2019
    By alternativeafrica
  • News Now

    Nigeria wows to expose wealthy tax defaulters – Finance Minister

    February 9, 2018
    By alternativeafrica
  • AfricaHealthNews Now

    ECOWAS adopts common approach to address potential spread of COVID-19 virus

    February 17, 2020
    By alternativeafrica
  • Arts & CultureEnvironmentNews Now

    My incredible summer trip to Rwanda, DeGeneres urges audience to visit

    September 5, 2018
    By VJ Africa
  • News Now

    Ethiopia: PM Abiy Ahmed reaches agreement with soldiers demanding pay rises – TV

    October 11, 2018
    By VJ Africa

Leave a reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

You might be interested

  • HealthNews NowWorld

    COVID-19: Britain adds 1.7 million more people to self isolation list

  • AfricaBusinessNews NowTechnology

    South Africa to install wifi-enabled solar street lights

  • AfrikaTVBusinessNews Now

    Mastercard Foundation announces new fund to seed young African leaders’ ventures

Timeline

  • February 25, 2021

    Scientists discover the fossil of 66-million years old Coelacanth fish in Morocco

  • February 25, 2021

    Morocco receives additional one million doses of AstraZeneca vaccines as vaccination nears 3m

  • February 25, 2021

    Divorce: Court orders husband to pay ex-wife £5,500 for five years as fee for housework

  • February 25, 2021

    5 Africa-born designers open digital Milan Fashion Week

  • February 25, 2021

    South Africa to spend $712 million on national vaccination drive

  • Popular

  • Comments

  • Lagos govt confirms first case of deadly coronavirus infection in Nigeria

    By alternativeafrica
    February 28, 2020
  • Keynote Address of President Nana Addo Dankwa Akufo-Addo at 2018 Oxford Africa Conference

    By PSJ Africa
    May 14, 2018
  • Morocco begins regional integration by connecting Casablanca Airport with High Speed Train

    By alternativeafrica
    January 4, 2020
  • Kenyan govt pressure Facebook for data on Kenyan users

    By alternativeafrica
    November 20, 2019
  • Nigeria: 32,000 capacity Lagos rice mill to start production in 2020

    By alternativeafrica
    December 23, 2019
  • Ado zagi
    on
    January 12, 2021

    Nigeria: EFCC Academy to begin award of degree

    Diploma leave areply from
  • Ethiopia joins Africa's Artificial Intelligence revolution | Alternative Africa
    on
    October 2, 2020

    Spending on Artificial Intelligence Systems in Africa, Middle East to top $374 million in 2020

    […] Many African countries ...
  • The 5 most popular Africans 2020
    on
    September 25, 2020

    Celebrating Congolese doctor Jean-Jacques Muyembe, the man behind breakthrough of Ebola cure

    […] Dr. Jean-Jacques Muyembe ...
  • Millitants in Central Mali Set Jail Ablaze in Attack Killing Two | taktik(z) GDI (Government Defense ...
    on
    August 11, 2020

    Fifteen gendarmes killed in another attack on Mali camp

    […] attack fol­lowed a January ...
  • Millitants in Central Mali Set Jail Ablaze in Attack Killing Two
    on
    August 11, 2020

    Fifteen gendarmes killed in another attack on Mali camp

    […] attack followed a ...
AlternativeAfrica.com is an independent Pan African News Website dedicated primarily to influencing the negative narratives about Africa. We hope to do this by focusing and showcasing the many developmental strides sweeping across the continent.

Read more >>>

Contact Info

  • info@alternativeafrica.com
  • Recent

  • Popular

  • Comments

  • Scientists discover the fossil of 66-million years old Coelacanth fish in Morocco

    By alternativeafrica
    February 25, 2021
  • Morocco receives additional one million doses of AstraZeneca vaccines as vaccination nears 3m

    By alternativeafrica
    February 25, 2021
  • Divorce: Court orders husband to pay ex-wife £5,500 for five years as fee for housework

    By alternativeafrica
    February 25, 2021
  • 5 Africa-born designers open digital Milan Fashion Week

    By alternativeafrica
    February 25, 2021
  • Lagos govt confirms first case of deadly coronavirus infection in Nigeria

    By alternativeafrica
    February 28, 2020
  • Keynote Address of President Nana Addo Dankwa Akufo-Addo at 2018 Oxford Africa Conference

    By PSJ Africa
    May 14, 2018
  • Macron in Ivory Coast to launch anti-terrorism academy

    By alternativeafrica
    December 21, 2019
  • Kenyan govt pressure Facebook for data on Kenyan users

    By alternativeafrica
    November 20, 2019
  • Ado zagi
    on
    January 12, 2021

    Nigeria: EFCC Academy to begin award of degree

    Diploma leave areply from
  • Ethiopia joins Africa's Artificial Intelligence revolution | Alternative Africa
    on
    October 2, 2020

    Spending on Artificial Intelligence Systems in Africa, Middle East to top $374 million in 2020

    […] Many African countries ...
  • The 5 most popular Africans 2020
    on
    September 25, 2020

    Celebrating Congolese doctor Jean-Jacques Muyembe, the man behind breakthrough of Ebola cure

    […] Dr. Jean-Jacques Muyembe ...
  • Millitants in Central Mali Set Jail Ablaze in Attack Killing Two | taktik(z) GDI (Government Defense ...
    on
    August 11, 2020

    Fifteen gendarmes killed in another attack on Mali camp

    […] attack fol­lowed a January ...

Photostream

    Follow us

    • Home
    • About Us
    • Privacy Policy
    • Terms of Use
    • Contact Us
    © Copyright Alternative Africa 2019. All rights reserved.