The commencement of the Lagos -London route by a Nigeria Airline, Air Peace, has positively impacted the fare of other international airlines flying the same route as the fare has drastically gone down.
It could be recalled that Air Peace airline, on February 28, 2024, announced the launch of its Lagos -London route, announcing a Return Economy Class Ticket for N1.2m naira while a Return Business Class Ticket according to the company will sell for N4 million. Nigerians studying in the UK also enjoy a 15% reduction in the fare.
Before now, economy class tickets used to be between N3 million and N4 million but now, it has been reduced to between N1.5 million and N1.8 million. Also first class and business-class fare have been reduced drastically and traveling has been made affordable
This resulted from Air Peace coming into the London market, which has created competition in the industry and drastically reduced airfare. Air Peace started with a promo and was slashing airfare for students. This is the result when more players come into the market.
Stakeholders has described this as a very good development. The former Vice President, South West, NANTA, Yinka Folami, speaking to a leading Nigerian Newspaper said to sustain the achievement, the government through the NCAA should sustain monitoring and regulatory functions on the foreign airlines.
According to him, “Before now, it used to be the economy class ticket between N3 million and N4 million and sometimes, we can get economy class ticket for an average of N1.4million also as a function of availability we can get N1.1million or N1.2million on Air Peace.”
Also speaking to a leading Nigerian Newspaper, on his part, the former South West Public Relations Officer, NANTA, Olaleye Ajibade, urged the federal government to encourage indigenous airlines to go on international routes. According to Ajibade, local airlines flying into China, United States, Canada, will further crash foreign air tickets.
