{"id":158327,"date":"2022-08-24T14:13:37","date_gmt":"2022-08-24T18:13:37","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=158327"},"modified":"2022-08-24T14:13:37","modified_gmt":"2022-08-24T18:13:37","slug":"as-nigeria-freezes-foreign-currency-transactions-upp-advises-pm-browne-to-be-cautious-about-launch-of-antigua-airways","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/as-nigeria-freezes-foreign-currency-transactions-upp-advises-pm-browne-to-be-cautious-about-launch-of-antigua-airways\/","title":{"rendered":"As Nigeria freezes foreign-currency transactions, UPP advises PM Browne to be cautious about launch of Antigua Airways"},"content":{"rendered":"
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An Antiguan aviation consultant with connections to Africa is raising concerns about Prime Minister Gaston Browne\u2019s hasty plans to launch the Nigeria-based carrier branded Antigua Airways \u2013 adding to the concerns already voiced by the United Progressive Party (UPP).<\/p>

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The consultant, who is based in the United States, refers to reports from the International Air Transport Association (IATA), which indicate that Nigeria is currently withholding US$450 million in revenues earned by international carriers operating in that country.<\/p>\n

Emirates is the latest international carrier to suspend flights to Nigeria due to its inability to repatriate monies it is owed.<\/p>

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As the nation tackles a severe dollar shortage, Nigeria has restricted access to foreign currency for investors, and IATA\u2019s Vice President for Africa and the Middle East \u2013 Kamal Al Awadhi \u2013 has described talks with Nigerian officials to release airline funds as a \u201chectic ride.\u201d<\/p>

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Accordingly, the UPP is raising concerns about the viability of the hasty airline deal to establish direct connections between the Caribbean and West Africa.<\/p>\n

\u201cPM Browne has admitted that the venture is risky. Amid the challenges that major airlines are facing in repatriating funds, why has he been so quick to jump into this deal?\u201d asks Harold Lovell, Political Leader of the UPP and a former Minister of Tourism and Aviation.<\/p>

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\u201cUnder the ALP, we have had too many failed projects, and one of the main reasons is the lack of due diligence. The PM needs to slow down; do some independent research; and carefully weigh the risks involved,\u201d Lovell cautions.<\/p>\n

A formal agreement was signed between the Government of Antigua and Barbuda and Nigerian publishing and printing firm Marvelous Mike Press Limited earlier this month.<\/p>

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The Administration claims that Antigua and Barbuda will earn 20 percent of the profits in this venture, which, reportedly, will be financed by African investors.<\/p>

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Under the arrangement, planes are to be leased and the airline\u2019s flight crews will be subcontracted. Service is expected to begin in mid October, although details about the flight schedule and bookings system have not been published.<\/p>\n

Meanwhile, a local businesswoman is asking why the Government is allowing Antigua and Barbuda\u2019s name to be used on what is a Nigerian venture. She notes that if the venture fails or otherwise \u201cgoes bad, it is our name \u2013 not Nigeria\u2019s \u2013 that will be tarnished.\u201d<\/p>\n

Other residents are asking why no one has heard from Sir Robin Yearwood, the sitting Minister of Aviation, on this deal.<\/p>\n

\"\"<\/a><\/div>","protected":false},"excerpt":{"rendered":"

An Antiguan aviation consultant with connections to Africa is raising concerns about Prime Minister Gaston Browne\u2019s hasty plans to launch the Nigeria-based carrier branded Antigua Airways \u2013 adding to the concerns already voiced by the United Progressive Party (UPP). The consultant, who is based in the United States, refers to reports from the International Air […]<\/p>\n","protected":false},"author":3,"featured_media":158329,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-158327","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nAs Nigeria freezes foreign-currency transactions, UPP advises PM Browne to be cautious about launch of Antigua Airways - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/as-nigeria-freezes-foreign-currency-transactions-upp-advises-pm-browne-to-be-cautious-about-launch-of-antigua-airways\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"As Nigeria freezes foreign-currency transactions, UPP advises PM Browne to be cautious about launch of Antigua Airways\" \/>\n<meta property=\"og:description\" content=\"An Antiguan aviation consultant with connections to Africa is raising concerns about Prime Minister Gaston Browne\u2019s hasty plans to launch the Nigeria-based carrier branded Antigua Airways \u2013 adding to the concerns already voiced by the United Progressive Party (UPP). 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