$1.68bn Trapped Foreign Airlines’ Fund, IATA Calls Out Nigeria & Ghana
The International Air Transport Association (IATA), the principal worldwide trade body for airlines, has once again expressed its displeasure with Nigeria and other African countries for their refusal to allow multinational airlines to repatriate revenues.
According to the group, the total amount of funds currently locked in African countries is believed to be $1.68 billion.
The group has criticised the refusal to allow multinational airlines to repatriate revenues.
It further stated that the difficulties will contribute to higher air travel prices and decreased African accessibility.