Foreign airlines reducing Lagos-London fares to push us out of market -Air Peace

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Allen Onyema, the CEO of Air Peace, revealed in an interview on Channels TV Politics Today that foreign airlines operating the Nigeria-UK route are trying to push Air Peace out prematurely by significantly reducing their airfares.

Onyema explained that before Air Peace joined the route, foreign airlines charged exorbitant prices due to the exchange rate, with business class tickets costing up to N17 million and economy class reaching N5 million.

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However, shortly after Air Peace launched its Lagos-London route, these same airlines slashed their fares in an effort to compete, despite no major change in the exchange rate.

“The foreign airlines were taking between N15-N17 million for business class, N6 million for premium economy, and N5 million for economy.

“Then Air Peace came on, charging N4.5 million for business class, and economy class starting from N1.2 million.

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“Now Air Peace did this, everybody has came crashing their prices from N18 million to N5 million.

“Dollar did not change,” Onyema said.

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