Nigerians have raised concern over skyrocketing prices of airfares despite assurances by the Minister of Aviation Festus Keyamo to look into some of the sharp practices by airlines in the industry.
The Nigeria Civil Aviation Authority (NCAA) has set up a committee to look into the hike in the price of fares by foreign airlines, noting much has been done to regulate the prices of domestic flights.
Currently, a one-way flight from Lagos to Abuja in economy class costs between N92,000 to N113,000, and business class costs about N168,000- 253,000. Round trip for Economy class cost about N212,000- 215,000 , business class cost about N452,000-455,000
In February 2022, airlines came together to increase the fares by over 100 percent pegging the lowest fares at N50,000, however, 2years after fares have increased by over 300 percent amidst the country”s inflationary pressures in the country’s foreign exchange.
The Chief Executive Officer of SYT Communications Mr Simon Tumba attributed the increase in airfares to the high of aviation fuels, high exchange rate as well as high aircraft maintenance fees.
He said about two weeks ago, aviation fuel used to be N1000 per liter but today it’s about N1.600, adding that given that most services in the aviation industry has been dollarized there is little airlines can do than to pass the cost to the passengers.
He said “is not like we are happy with what is happening, if you look at the industry today, there is no service that we don’t pay in dollars except for staff salaries , and it’s not all staff, foreign pilots and crew are paid in dollars. Moreso you have to maintain your aircraft and all this are in dollars.”
Also speaking, Mr Olumide Ohunayo, an aviation expert described the airfare has crazy even as he blamed the development on airline operating cost which has skyrocketed.
He said “You wouldn’t want the airlines to run at a loss. The price of fuel has jumped up, dollar raate against the Naira has also hit the roof top and other expenses have also jumped up”
“So the no choice but to fix a price that would at least make them be in business. So it’s not an airline issue alone it’s the situation of the economy. Something should be done about it so that companies can kickstart their operations back to normalcy.”
