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Forex trade airlines

Forex trade airlines

They included the United Airlines, which used to fly between Lagos and Houston, and the Spanish carrier, Iberia. They both left due to difficulties in converting proceeds from ticket sales into dollars for repatriation.Although airfares actually rose as a result of the increase in the exchange rate for the sale of tickets from 305/dollar to 326/dollar, some travel agents said the development had made foreign airlines to release some cheaper classes of airfares that hitherto were blocked.For example, flights to London that used to be N450,000 or N550,000 have come down. We have flights of N350,000 on the British Airways, Virgin Atlantic now. We now have Oscar class and Sugar class of seats that can be bought for N270,000 and N280,000.

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IATA has increased the exchange rate for the sale of ticket, but foreign airlines have in turn opened the cheaper classes. Airfares especially international travel tickets have witnessed significant rise in the last two years following the depreciation of the naira from 155/dollar to the current 326/dollar official.Currently, travel agents said the IATA rate had been fluctuating between N325/dollar and N328/dollar. The fluctuation in the exchange rate has in the last few years forced some foreign airlines to shut down their services in Nigeria.

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Unconfirmed sources said foreign airlines flying into the country were not breaking even with the sale of tickets at 305/dollar. The development, it was learnt, forced them to approach IATA to increase the exchange rate from 305/dollar to 326/dollar.When it just rose to N200, a lot of people were still travelling because you could still get tickets for N300,000 to New York but since it rose further, many licensed IATA agents have shut down.Contact: emailprotected (Visited 355 times, 1 visits today).

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Contact: emailprotected (Visited 355 times, 1 visits today).When it just rose to N200, a lot of people were still travelling because you could still get tickets for N300,000 to New York but since it rose further, many licensed IATA agents have shut down.

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