CBN disburses $61.64mn to Airlines to boost Naira valuation

  The Central Bank of Nigeria (CBN) has injected approximately US $61.64 million into the hands of foreign airlines operating in the country, a move intended to send the Naira soaring This targeted dollar releass aimed at clearing a portion of the backlog of matured foreign exchange obligations owed to the airlines, is a big step towards stabilizing the country’s forex market and boosting investor confidence. The Acting Director of CBN’s Corporate Communications Department, Mrs. Hakama Sidi Ali confirmed this

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We stand by our decision — Airlines insist on shutting operations over increased price of aviation fuel

Airline Operators of Nigeria (AON) have insisted on shutting down domestic flights across the country from Monday May 9, over increased price of aviation fuel.    In a statement released after the federal government’s asked them to consider the multiplier effect of their decision on travellers, the AON maintained they are not on strike but can continue to pay upfront in cash at N700 per litre for JetA1 which has increased their cost of operation on a daily basis to about 95

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Major U.S. airlines threaten to ban passengers who refuse to wear masks during their flights under new rules

U.S. airlines could ban passengers who refuse to wear face masks when traveling during the Coronavirus pandemic, Airlines for America, the US Aviation industry’s main lobby group has announced. According to the group, masks will be provided to passengers who do not have any. The group added that passengers could have their flying privileges revoked under tougher enforcement policies if they are caught flying without masks.   Carriers with stricter policies that could see travel privileges of erring customers revoked include

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