The International Air Transport Association (IATA) yesterday reported that $1.3 billion in airline funds are blocked from repatriation by governments as of end of April 2025.
According to IATA, this is a significant amount, although it is an improvement of 25% compared with the $1.7 billion reported for October 2024.
The association stated that 10 countries account for 80% of the total blocked funds, amounting to $1.03 billion.
However, Nigeria is not on the list again having cleared over $700m airlines’ blocked funds as of last year, thereby exiting the debtors’ list.
At its peak in June 2023, Nigeria’s blocked funds amounted to $850 million, significantly affecting airline operations and finances in the country.
However, as of April 2024, 98% of these funds have been cleared as IATA confirmed, saying the remaining $19 million was due to the Central Bank’s ongoing verification of outstanding forward claims filed by the commercial banks.
