IATA Says Foreign Airlines Revenues Blocked in Nigeria Has Been Reduced by over 50%

MONTREAL, Sept 27 (Reuters) – The value of ticket sales owed to foreign airlines in Nigeria has been reduced by over 50 percent since June, the International Air Transport Association said on Tuesday, adding it is making progress to recoup billions of dollars in revenues blocked by some countries.

Since June, the value of ticket sales revenue owed to foreign airlines in Nigeria has been reduced by over 58 percent since June to $246 million, IATA spokeswoman Mona Aubin said.

“Talks continue toward establishing a realistic and achievable payment schedule to settle the remaining amount,” she said.

Read More: UPDATE 1-Airline revenues blocked in Nigeria drop by over 50 pct-trade group