Emirates (EK, Dubai International) and Kenya Airways (KQ, Nairobi Jomo Kenyatta) have declared their intention to withdraw from the Abuja, Nigeria market in the near future due to the country’s worsening foreign currency shortage.
Emirates has slated its exit from the Nigerian capital for Saturday, October 22, while Kenya Airways will follow suit from November 15 onwards. Over the past six months, other foreign carriers like Iberia (IB, Madrid Barajas) and United Airlines (UA, Chicago O’Hare) have also opted to withdraw from the Nigerian market.
Nigeria’s foreign currency reserves have dwindled due to the decline in global oil prices, its primary export commodity. With demand for hard currency surpassing supply, airlines have encountered difficulties in repatriating ticket sales revenue to their home countries. In addition to challenges in remitting ticket sales in foreign currency, Emirates has faced issues with Nigeria’s Jet A1 fuel shortage, prompting the rerouting of some return flights to Dubai International via Accra, Ghana.
Emirates President Tim Clarke has remarked that the airline is reassessing not only its Nigerian operations but also its African network given the continent’s recent weak economic performance. In light of these circumstances, Emirates anticipates either scaling back or withdrawing from several other African markets in the coming weeks, although specific destinations were not disclosed.
Meanwhile, Kenya Airways is currently undergoing a restructuring program that involves discontinuing several unprofitable routes, including Abuja and Gaborone, Botswana.
Both airlines intend to maintain their presence in Nigeria, albeit solely through Lagos.
