Poor demand and lack of profitability leads Iberia Airlines to pull out of Nigeria

Iberia Airlines will suspend services to Nigeria on May 12, and Ghana on May 17, due to a drop in demand and “lack of profitability”.

Spain’s flag carrier and largest airline has also temporarily suspended services to Istanbul owing to the steep decline in demand.

Several Nigerian news sources have cited the Central Bank of Nigeria (CBN) FOREX policy. However, that could be speculative in nature as Ghana faces the ax as well.

Iberia Airlines faced huge competition from other European carriers and the tougher economic climate has led to steep decline in travel by Nigerians.

Decreasing demand has caused other foreign based carriers to reduce service to the Nation’s Largest City, Lagos.