Nigerian airlines face huge losses amid debt crisis
Airlines in Nigeria are facing severe financial difficulties, with the Airline Operators of Nigeria reporting massive losses. Ground handling companies are also threatening further action over billions in unpaid debts. Industry leaders warn that the standoff could have dire consequences for all stakeholders. Calls for dialogue and patience are growing as the crisis deepens.
What happened
- Roland Iyayi of the Airline Operators of Nigeria said airlines have lost over N150bn in just two months and are nearing breaking point.
- Ground handling companies are owed about N9bn and have threatened to escalate action if debts are not paid.
- Olaniyi Adigun, Chairman of the Aviation Ground Handling Association of Nigeria, stated the association is considering its next move in line with labour laws and may escalate if demands are not met.
- An anonymous member of the Airline Operators of Nigeria urged caution, warning that the dispute could worsen Nigeria’s fragile economic situation.
- The ground handlers previously issued a seven-day ultimatum to airlines, threatening to withdraw services if outstanding debts are not settled.
