Index to Nigerian Newspapers

FX Scarcity: Airline operators may shut down soon, says Okonkwo

A front-line airline operator, and the Chairman of United Nigeria Airline (UNA), Prof. Obiora Okonkwo has raised the alarm over the continued scarcity of foreign exchange and the worrisome devaluation of the naira, saying that 50 per cent of operators in the aviation industry may soon be grounded. Okonkwo said this in Abuja during the annual staff retreat organised for the staff members of United Nigeria Airlines. He noted that should the government not take any proactive measures towards addressing the continued devaluation of the naira and the rising demands for foreign exchange, about 50 per cent of aircraft may be out of service. Okonkwo stated that as an airline operator, he was concerned that the government had not responded to several calls for the stabilisation of naira, to ameliorate the economic challenges confronting the aviation industry and other sectors. On the staff retreat, he disclosed that the management of the airline has remained consistent in motivating its staff members and ensuring that the right attitude to work was maintained.

Onwe Caleb | Airlines—Nigeria—Economic aspects | New Telegraph | Friday, February 23, 2024