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Foreign airlines announce commencement of tickets sales in US dollars

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 Foreign airlines announce commencement of tickets sales in US dollars
LUFTHANSA AIRLINE

Some foreign airlines operating in Nigeria say they will begin the sale of tickets in US dollars with effect from April 19, 2022.

The development was announced by APG in an advisory to its travel partners, titled: “APG IET: Restrictions of Sales in US dollars”.

APG said the difficulty in repatriating airlines’ funds stuck in Nigeria and other countries, coupled with foreign exchange fluctuation, is responsible for the new policy.

 

APG is the world’s largest passenger and ​cargo general sales agent (GSA) and airline representation company with offices around the world, including Europe, Africa and the Middle East.

READ ALSO: FG orders airlines to suspend ‘coordinated’ airfare hike

The airlines to effect the new policy are those on APG Interline Electronic Ticketing (IET) GP code 275.

“Dear travel partners, warm greetings from APG. This is to bring to your notice that with effect from April 19, 2022, GP would only accept issuing of tickets in US dollars and not naira,” the advisory reads.

 

“This is mainly due to repatriation issues and the forex situation in the country. This would most likely be a temporary measure till the forex situation improves.

 

“Our sincere apologies for any inconveniences this may cause to you and your business. Thank you for understanding.”

 

Airlines on the APG IET platform include South African Airways, Fly Dubai, Kenya Airways, Middle East Airlines, Royal Air Maroc, Rwandair, Thai Airways, Turkish Airlines, FrenchBee, EgyptAir, ASKY, Air Seychelles, Air Algerie and Air Namibia.

 

Air Panama, Air Burkina, Avianca, Bangkok Airways, Cabo Verde Airlines, Fiji Airways, Hong Kong Airlines, Malaysian Air, alongside other carriers, also use the platform.

 

Some of these airlines which fly directly into Nigeria are South Africa Airways, Turkish Airlines, Asky Airlines, Egypt Air, Royal Air Maroc, Middle East Airlines, Rwanda Air and Kenya Airways.

 

Recently, Hadi Sirika, minister of aviation, disclosed that Nigeria currently holds $283 million of foreign airlines’ funds.

 

The money mostly proceeds from sales of tickets, but it is trapped in Nigeria due to the forex crisis.

 

In line with the Bilateral Air Service Agreements (BASAs) with countries, airline tickets are mostly sold in naira, while the airlines would repatriate the funds in dollars through the country’s central bank.

 

“Aviation business suffers from issues of foreign exchange by local and foreign airlines and their inability to repatriate blocked funds,” Sirika had said.

 

“Nigeria currently holds $283m worth of foreign airlines fund in the country. I humbly ask for the support of the Central Bank of Nigeria through the directives of President Muhammadu Buhari to aid access of both local and foreign airlines to foreign exchange.”

 

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