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464m Trapped Funds: British Airways Closes Nigerian Inventory, May Stop Operations In December

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British Airways Closes Nigerian Inventory
British Airways Closes Nigerian Inventory

The inability of British Airways, the United Kingdom carrier to repatriate its trapped funds out of Nigeria has led to the suspension of ticket sales in the country.

This is as the airline threatened that it may be compelled to stop flight services into Nigeria if the ongoing crisis of over $464 million trapped funds from ticket sales of combined foreign airlines operating into Nigeria is not resolved by the Federal Government.

The airline in a business meeting with the leadership of National Association of Nigerian Travel Agencies (NANTA), the umbrella body of travelling agencies in the country on Thursday, said that the closure of inventory was a necessary measure to mitigate increase of its trapped funds in Nigeria.

The airline, however, assured that it would continue to fly into the country.

But, NANTA has advised its members not to sell the airline’s tickets beyond December 2022.

If the airline carries out its threat, Nigerians travelling home in December may face a herculean task of doing so.

Details later….

Independent.ng

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