Funds of foreign airlines trapped in Nigeria settled at $591 million today (Thursday, June 2), nestling at world’s second position after Venezuela with $33.7 billion.
The figures were revealed at the 72nd annual general meeting of International Air Transport Association holding in Dublin, Ireland.
The countries airlines are having difficulty repatriating funds are 1. Venezuela ($3.7 billion in 16 months); 2. Nigeria ($591 million in 7 months); 3. Sudan ($360 million in 4 months); 4. Egypt ($291 million in 4 months) and 5. Angola ($237 million in 7 months ).
Like in many sectors, aviation is experiencing harsh conditions, with two foreign airlines, Iberia and United Airlines, already out.