{"id":111307,"date":"2024-04-11T12:24:53","date_gmt":"2024-04-11T11:24:53","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=111307"},"modified":"2024-04-11T12:24:53","modified_gmt":"2024-04-11T11:24:53","slug":"foreign-airlines-lowering-lagos-london-fares-to-push-us-out-of-market-air-peace","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/foreign-airlines-lowering-lagos-london-fares-to-push-us-out-of-market-air-peace\/","title":{"rendered":"Foreign airlines lowering Lagos-London fares to push us out of market -Air Peace"},"content":{"rendered":"<p>The Chief Executive Officer of Air Peace, Allen Onyema, says the significant reduction in international airfares by foreign airlines operating the Nigeria-UK route\u00a0 is an attempt to prematurely remove Air Peace from the route.<\/p>\n<p>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\u2019s experience after launching the Lagos-London route.<\/p>\n<p>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.<\/p>\n<p>However, just weeks after Air Peace started operating on the Lagos-London route, the same foreign airlines drastically reduced their fares\u00a0 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.<\/p>\n<p>\u201cThe foreign airlines were taking between N15-N17 million for business class, N6 million for premium economy, and N5 million for economy.<\/p>\n<div dir=\"auto\">\n\u201cThen Air Peace came on, charging N4.5 million for business class, and economy class starting from N1.2 million.<\/div>\n<div dir=\"auto\">\n\u201cNow Air Peace did this, everybody has came crashing their prices from N18 million to N5 million. Dollar did not change,\u201d Onyema said.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Onyema further elaborated that foreign airlines are conspiring to cut their fares to levels below their break-even point, aiming to push his airline out of the Nigeria-UK route. He warned that if these foreign airlines succeed, Nigerians would face considerably higher fares than the current rates.<\/p>\n<p>\u201cIt 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,\u201d he stated.<\/p><\/div>\n<div dir=\"auto\">\nWhile Onyema acknowledged the Federal Government\u2019s support, especially from the Minister of Aviation and Aerospace Development, Festus Keyamo, in launching Air Peace\u2019s Lagos-London route successfully, he called on the government to intervene.<\/p>\n<p>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.<\/p>\n<p>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.<\/p>\n<p>Air Peace launched its Lagos-London route on March 30 to provide quality travel experience and make international trips affordable.<\/p><\/div>\n<div dir=\"auto\">\nSince commencing its UK service, Air Peace has offered competitive rates, starting economy class fares at N1.2 million, significantly less than the N3-5 million usually charged by foreign carriers.<\/div>\n<div dir=\"auto\">\nThe airline priced its business class tickets at around N4.5 million, far below the N15-N18 million foreign airlines\u2019 rates.<\/div>\n<div dir=\"auto\">\nThis pricing strategy garnered praise from Nigerians for its affordability, leading to a price reduction by foreign airlines on the Nigeria-UK route.<\/p>\n<div class=\"yj6qo\"><\/div>\n<div class=\"adL\"><\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Chief Executive Officer of Air Peace, Allen Onyema, says the significant reduction in international airfares by foreign airlines operating the Nigeria-UK route\u00a0 is an attempt to prematurely remove Air&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":94510,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-111307","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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