“It Is important to state that foreign airlines sold these tickets at the official IATA rate and cannot be expected to go the parallel market to source, convert and remit as opined in some quarters, the central bank should do the needful as enshrined in the BASA agreements”. Part of what triggered the blocked funds, according to them, is caused by lack capacity to compete, which would have reduced the remittance volume. These experts, acting under the aegis of Aviation Round Table therefore, opined that international trade is bound by agreements, which are sacrosanct and respected, insisting that Nigeria cannot do otherwise if they crave the attention of investors in our industry. Conversion and remittance shall be permitted without delay in accordance with the prevailing foreign exchange regulations”. In all Bilateral Air Services Agreement an Article in the agreement - transfer of earnings, clearly states that “each designated airline shall have the right to convert and remit to its country on demand, local revenues in excess of sums locally disbursed.
Industry experts are, however, not pleased with the appalling handling of the accumulated foreign airline funds trapped in Nigeria banks, due to the non-allocation of forex to these airlines. It is time for the Government of Nigeria to prioritise the release of airline funds before more damage is done,” he said. Loss of air connectivity harms the local economy, hurts investor confidence, impacts jobs and peoples livelihoods. Airlines cannot be expected to fly if they cannot realise the revenue from the sale of tickets. IATA’s warning that failure to restore timely repatriation will hurt Nigeria with reduced air connectivity is proving true with the withdrawal of Emirates from the market. “This is airline money and its repatriation is protected by international agreements in which Nigeria participates. Reacting to the situation, Kamil Alawadhi, IATA’s Regional Vice President for Africa and the Middle East said “IATA is disappointed that the amount of airline money blocked from repatriation by the Nigerian government grew to $464 million in July. IATA, on its own, has already expressed its disappointment on Nigeria’s continuing withholding of foreign airlines’ revenues. Today Alex brings his range of expertise to AWA focusing on strategic direction and seeking enhancements for the group.Anxiety As FG Takes Terrorism Financiers to Court
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After completing the integration of this group, he chose to take a more entrepreneurial path focused on building a range of businesses in the software and wider transportation sectors. This resulted in dramatically lowering the cost of ocean transportation in these sectors.įollowing another stint realigning ANZDL, Alex chose to take on the role as COO of Direct Container Line ultimately leading to the formation of NACA and the Vanguard Group.
Alex was instrumental in creating and launching Australia New Zealand Direct Line.Īfter creation of ANZDL, Alex moved back to New Zealand and was instrumental in leading the campaign to remove cabotage and driving the changes in the Tasman Accord. This ultimately led to a position in the USA as EVP of one of the most innovative and profitable ocean carriers of its time. This provided total immersion in the industry, including stints in stevedoring and at-sea time. Alex entered the industry as a management trainee with the Shipping Corporation of New Zealand allowing him to attend university whilst learning the industry position by position.
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