Nigerian Airlines Face N150bn Losses Amid Debt Crisis

The Airline Operators of Nigeria, represented by Roland Iyayi, reported that airlines have incurred losses of N150 billion over the past two months, pushing them to a critical operational breaking point. Iyayi emphasized that the financial strain has reached a level where stakeholders are no longer willing to negotiate.

Ground handling companies, represented by Olaniyi Adigun of the Aviation Ground Handler Association of Nigeria, have issued a seven-day ultimatum to airlines to settle outstanding debts totaling N9 billion. Failure to meet this demand could result in the suspension of essential flight services, exacerbating the already fragile state of the aviation sector.

The situation is further complicated by the broader economic challenges facing Nigeria, with warnings that the collapse of airlines could trigger widespread repercussions across the nation. Stakeholders are urged to engage in dialogue to prevent further deterioration of the situation, as the aviation sector is critical to the country's economy.