Air Peace, a prominent player in Nigeria’s aviation sector, revealed a significant adjustment in its London route ticket prices, with economy class tickets now priced at N1.2 million and business class at N4 million, effective March 30.
The new rates represent a considerable reduction compared to the existing ticket prices for London flights from Nigeria, which range between N2.3 million and N4.2 million for economy class and N6 million for business class.
Stanley Olisa, the airline’s Corporate Communications Lead, emphasized the availability of the updated flight schedules on Air Peace’s website.
The announcement highlighted the airline’s commitment to providing competitive pricing, making air travel a more viable option for a broader segment of the Nigerian population.
”A return economy class ticket goes for N1.2 million, while a return business class ticket sells for N4 million.
”Nigerians studying in the United Kingdom can also now access their special 15% rebate on the already reduced economy fares.”
This development comes as Air Peace prepares to launch its London route, marking the airline’s seventh international destination in almost a decade of operation.
The carrier, currently a leader in Nigeria’s aviation industry, boasts an extensive network with 21 domestic routes, 10 regional routes, and six international destinations.
The airline continues to enhance its services with a modern fleet comprising more than 30 aircraft. This strategic move aligns with Air Peace’s goal of expanding its global footprint while prioritizing accessibility for passengers, including students and travelers on the London route.
The recent escalation in air flight ticket costs is attributed to the confluence of challenges plaguing Nigeria’s aviation industry.
A dual crisis involving the country’s forex instability and the scarcity of Jet A1, essential for aviation fuel, poses significant threats to the viability of indigenous airlines.
Presently, the industry grapples with the aftermath of unpredictable forex rate fluctuations and the surging price of aviation fuel, reaching N1,300 per litre. These economic challenges have severely disrupted strategic planning and operational stability in the aviation sector.
For instance the sudden surge in aviation fuel costs from N700 per litre and the exchange rate reaching 1,400/$.
Nigeria’s ongoing dollar shortage, intensified by reduced oil production – a crucial foreign exchange source – further impedes local airlines’ ability to secure adequate foreign currency for overseas fleet maintenance.
