The Chief Executive Officer of Air Peace, Allen Onyema, says the significant reduction in international airfares by foreign airlines operating the Nigeria-UK route is an attempt to prematurely remove Air Peace from the route.
Onyema made this revelation on Tuesday during an exclusive interview on the Channels TV evening program, Politics Today, where he shared insights into his airline’s experience after launching the Lagos-London route.
The CEO of Air Peace pointed out that prior to his airline entering the Nigeria-UK route, foreign airlines charged exorbitant prices, with business class tickets costing as much as N17 million and economy class going to N5 million, attributing these high fares to the exchange rate.
However, just weeks after Air Peace started operating on the Lagos-London route, the same foreign airlines drastically reduced their fares in an attempt to oust Air Peace, even though there was no significant change in the exchange rate between the dollar and the Naira, Onyema claimed.
“The foreign airlines were taking between N15-N17 million for business class, N6 million for premium economy, and N5 million for economy.
“It is a very devilish conspiracy. All of a sudden, airlines are underpricing. The idea is to take Air Peace out. The moment they succeed in taking Air Peace out, Nigerian will pay 20 times over,” he stated.
He highlighted the need for action against foreign airlines that are slashing fares below their break-even points, aiming to force Air Peace out of the Nigeria-UK route prematurely.
Onyema suggested that the government could assist Air Peace by reducing its operational charges, thus providing the airline with a better opportunity to compete against foreign carriers backed by their governments.
Air Peace launched its Lagos-London route on March 30 to provide quality travel experience and make international trips affordable.