JUST IN: Passengers Abandon Airports as Air Peace, Dana Air, Others Announce New Ticket Prices

Passengers Abandon Airports as Air Peace, Dana Air, Others Announce New Ticket Prices

Abandon Airports as Air Peace, Dana Air, Others Announce New Ticket Prices

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Passengers patronising the airport have declined as a result of an increase in airfares to local destinationsAccording to employees of the airports, the low traffic is a result of the increase in the price of airfaresIn order to cope, airlines have resorted to assisting one another in airlifting passengers headed to the same places

Henzodaily.ng journalist Zainab Iwayemi has over three years of experience covering the Economy, Technology, and Capital Market.

There has been a sharp decline in the number of passengers arriving at and leaving airport terminals throughout due to the ongoing increase in airfares to local destinations.

Findings showed that not many passengers were being processed for travel.
Credit: Anchiy
Source: Getty Images

BusinessDay observed that the three busiest terminals in Nigeria, the local airport terminal in Abuja, the General Aviation Terminal (GAT) in Lagos, and Murtala Muhammed Airport, Lagos (MMA2), did not process many passengers for travel.

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These airports are typically only crowded with incoming travellers. Most airport employees complain that low traffic is a result of increased airfares.

An airline revealed that to prevent growing operating costs, airlines have recently assisted one another in airlifting passengers headed to the same places and splitting the trip revenue.

According to research, aircraft fuel currently accounts for roughly 45% of operating costs, followed by labour (17%), aircraft rent and ownership (8.5%), non-aircraft rents and ownership (7%), professional services (4.5%), landing fees (2%), food and beverage (1.5%), maintenance materials (13%), and transport-related (1.5%).

Additional research reveals that airlines run a B737 aircraft for more than four times that amount due to the current exchange rate and rise in aviation fuel, priced at almost N1,300 per litre.

In addition, as the value of the naira rises relative to the dollar, airlines must raise ticket prices.

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Ticket prices by various airlines

A one-way economy class ticket from Lagos to Abuja, which cost N55,000 a few months ago, is now available for between N100,000 and N150,000 on Air Peace, N90,000 to N160,000 on United Airlines, N70,000 to N130,000 on Dana Air; and N170,000 to N200,000 on Ibom Air, according to recent findings

Similarly, it used to cost roughly N55,000 for a one-way economy class ticket from Lagos to , but now it costs between N105,000 and N160,000 on Air Peace, N85,000 and N100,000 on United Nigeria Airline, N65,000 and N125,000 on Dana Air, N96,000 and N130,000 on Ibom Air, and N86,000 and N170,000 on Arik Air.

Mazi Osita Okonkwo, Chief Operating Officer (COO) of United Nigeria Airlines, said

“Currently, aviation fuel has increased to N1,300 per litre or even more. Forex is over N1,000 for one dollar. So, if we are leasing aircraft, how do we pay for the aircraft, having paid for spare parts? The minimum cost of airfare should be $100.

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“So, I don't even see how you can fly for less than N150,000, and you will make a profit. Anybody telling you he is making it is not telling you the truth. Once the cash runs out, you will see operators parking their aircraft as some have done already.”

Ndukwe Ginika Ogechi, CEO of Geena Travels And Tours Ltd, also told BusinessDay that the turnout of passengers at local destinations has been scanty lately as a result of the cost of tickets.

Nigerian airline offers passengers discounted airfares

Henzodaily.ng reported that Dana Air has restated its dedication to offering Nigerians cost-effective and convenient travel choices by reintroducing its ‘Early Bird' initiative.

Henzodaily.ng recently reported that the airline introduced the Dana Miles initiative, an array of additional rewards for its frequent flyer club members.

According to a statement from Kingsley Ezenwa, Dana Air's Head of Corporate Communications, this fare initiative is a response to the increasing

Source: Henzodaily.ng

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