Air Passengers React as Airlines Quote New Fares, Air Peace Crash Tickets for Nigerian Students

• Airline operators in Nigeria are quoting new fares following the rise in inflation and foreign exchange challenges
• Checks show that various airlines have hiked their ticket prices, mainly for the Lagos-Abuja route, considered the most lucrative
• Max Air, Ibom Air, and Valuejet, among other top airlines, have adjusted their prices for the Lagos-Abuja route

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.

Airline operators in Nigeria are passing through hard times following the drop in domestic passengers, with airport terminals across Nigeria almost empty.

The development is attributed to the hike in the prices of air tickets, with the Lagos-Abuja return flight costing over N400,000.

Lagos-Abuja return ticket price increases

The current price represents a more than 300% rise in two years as a one-way ticker for the Lagos-Abuja flight, which was quoted at N50,000.

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According to reports, the airlines in Nigeria met in February 2022 and hiked their fares by over 100%, with the lowest fare pegged at N50,000.

Two years after, airfares have humped by over 300% amid inflation and foreign exchange pressures.

Currently, a one-way ticket lasting 50 minutes costs between N143,000 and N230,000 for the Lagos-Abuja route, considered the busiest in Nigeria.

Reports say Ibom Air quotes the Lagos-Abuja route at N150,000, N185,000, and N200,000, depending on the time.

Valueje quotes the Lagos-Abuja route at N123,905, while Max Air charges N195,000, and Arik sells its tickets for N123,452.

Foreign airlines open lower tickets for Nigerians

The development comes as foreign airlines recently announced that they have opened cheaper tickets for Nigerian travellers after the intervention of the Nigerian government.

Airport workers have lamented the low turnout of travellers at the local airports due to the high cost of air travel.

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Daily Trust reports that airlines in Nigeria have adopted the re-protection method by sharing passengers instead of flying with less than 50% of passengers to cut costs.

The airlines, under the aegis of Airline Operators of Nigeria (AON), entered into a codeshare pact in 2022 under Spring Alliance to help each other with passengers.

However, checks show that the Spring Alliance has been ineffective since its launch.

United Nigeria Airlines boss Osita Okonkwo confirmed the statement and said the airline has now adopted the practice to protect itself from losses.

He said:

“It is now more of a cooperation agreement among the member airlines. It is a reprotection and something that came out of necessity. So, we are still working on it. Only two or three airlines are powerful in the alliance: United Nigeria Airlines, Air Peace and possibly Dana Air.”

Recall that one of Nigeria’s top airlines, Air Peace, announced that it will commence a direct flight to London on March 30, 2024.

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The airline also announced that its fare price has crashed for Nigerian students wishing to travel to the UK for studies.

Nigerian airline CEO gives CBN, FG simple solution to crash dollar

Legit.ng reported that the chief executive officer of United Nigeria Airlines, Obiora Okonkwo, has hailed the CBN for its efforts to stabilise the naira in the country.

In an interview with Channels Television’s business morning show, he expressed hope that the naira will fall below N1000/$.

To accomplish this, however, he recommended that the government introspect and identify the root causes of these problems.

Source: Legit.ng