Uncategories Economic Crisis: United Airline Pulls Out of Nigeria

Friday, 27 May 2016



Economic Crisis: United Airline Pulls Out of Nigeria

May 27, 2016
Another major airline company has parted ways with Nigeria over unfavourable conditions of business. 

  
United Airlines will stop flying to Nigeria next month, ending the carrier’s only route to Africa because of weakness in the energy sector and difficulties in collecting money from tickets sold in that country.

The daily route from Houston to Lagos had underachieved for years but was kept alive because of its importance to Texas-based customers, United Continental Holdings Inc. said in a note to employees on Wednesday. The last flight will be June 30, after which Delta Airlines Inc. will be the only major U.S. carrier flying to Africa.

Nigeria has restricted the amount of money that can be moved abroad after the global slump in oil prices depleted the government’s U.S. currency reserves. The country owed airlines about $575 million in air fares as of March 31, according to the International Air Transport Association.

“Repatriation has been a significant issue, as has been the downturn in the energy sector,” said United spokesman Jonathan Guerin, who confirmed the note’s authenticity.

Passengers can still fly to Nigeria on United’s trans-Atlantic business partner, Deutsche Lufthansa AG, through a connection in Frankfurt.
 
The Boeing Co. 787 serving Lagos will be used on the San Francisco-to-Tel Aviv route, which will expand to daily in October from three times weekly, according to the airline note.
 
Source: Bloomberg


Are You On youtube? subscribe to Hot GIST Channel Latest Updates - @Hot Gist

Are You On youtube? subscribe to Gospel World (which is also owned by Tony Gists) youtube Channel Latest Updates - @Gospel world

Are you on audio mack? Follow Tonygists on audio mack to listen and download to the latest Mfm sermons Latest Updates - @Tonygists

Follow Tonygists on LinkedIn to get more jobs opportunities Latest Updates - @Tonygists

Are You On youtube? subscribe to Honest Ose Channel Latest Updates - @Honest Ose

Are You On youtube? subscribe to Honest Web Solutions Channel Latest Updates - @Honest Web Solutions

Are You On youtube? subscribe to Xtremely Honest Channel Latest Updates - @Xtremely Honest

Are You On Twitter? Follow Us Now For Latest Updates - @tonygists

Are You On FACEBOOK? Like Our Page For Latest Updates - tonygists

Are You On FACEBOOK? Join Our Group For Latest Updates And Interactions - TonyGists


© 2024 Tonygists | Portions are © 2024 Associated Press. All rights reserved. This material may be published, broadcast, rewritten, or distributed.
Tony Odijie

Share This Post Via

Related Posts

Next
« Prev Post
Previous
Next Post »

Subscribe to: Post Comments (Atom)

Reliance Training and Management Consulting, a dynamic, fast growing indigenous entity, was established and duly registered with the aim to nurture, develop and innovate people and organisations through customized training, development and management consulting services, with excellent performance, deep sense of commitment, transparency, honesty and responsibility, to demonstrate the highest standard of technical and operational expertise.
 


 
Reliance is competently positioned to provide technical knowledge and skills relevant to practical management and business problems, to stimulate the creativity and innovation necessary to build a better community, a better nation and a better world with a committed mind set to contributing our best to the maximization of personal potentials and skills toward optimizing productivity and achieving organisational goals.
 
for more information click RELIANCE TRAINING AND MANAGEMENT CONSULTING

Ads