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Emirates plans to reduce Nigeria service due to trapped revenue

Emirates plans to reduce Nigeria service due to trapped revenue

LIBBY GEORGE DUBAI'S Emirates plans to reduce flights to Nigeria this month due to troubles repatriating revenue from Africa's most populous nation, according to a letter sent to the government and seen by Reuters. Emirates plans to cut the number of flights to Lagos to seven from 11 by mid-August, the letter said, adding it had $85 million stuck in the country as of July, a figure that had been rising by $10 million per month. Industry observers say more airlines could follow suit if the central bank, which restricts access to foreign currency to tackle a severe dollar shortage,…
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