How Nigeria Can Curb High Airfares On International Routes

African Airlines Soar With 22.1% Revenue Growth, But Challenges Loom In Nigeria

10 months ago
1 min read

African airlines experienced a robust 22.1% surge in Revenue Passenger Kilometers for November 2023, showcasing resilience amid industry challenges.

However, in Nigeria, dollar scarcity prompts currency devaluation, spiking airfare prices. Despite over a 200% increase, high demand keeps Nigerian skies bustling, challenging perceptions of the nation’s economic standing.

Join our WhatsApp Channel

National Association of Nigerian Travel Agencies President, Susan Akporiaye, stated, “Nigerians are travellers; we are over 200 million. That’s why people do not believe that we are a poor nation.” While the aviation sector grappled with a monthly N21 billion loss during the COVID-19 outbreak, analysts predict a slow recovery until 2024.

READ ALSO: Trapped Funds: Foreign Airlines Express Frustration Over ‘Paltry’ $61m Payment, Threaten Exit From Nigeria

IATA’s report emphasizes aviation’s importance, noting, “Economic headwinds are not deterring people from taking to the skies.” Willie Walsh, IATA’s Director General, adds, “We are moving ever closer to surpassing the 2019 peak year for air travel.”

Despite international travel remaining 5.5% below pre-pandemic levels, domestic markets have consistently exceeded them since April, signaling a resilient recovery.

content

emmmmmm
+ posts

Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.


MOST READ

Follow Us

Latest from Business

Don't Miss

Why Nigerian Airlines Have Been Unable To Compete With Foreign Operators - Keyamo  

Airlines To Refund 25% To Passengers For Cancelled Flight – NCAA

Capt. Chris Najomo, Acting Director-General of the Nigerian