Air Peace Faces Price War as British Airways, Qatar Airways Slash Ticket Costs on Key Routes

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**Foreign Airlines Slash Fares on Lagos-London Route, Challenging Air Peace Dominance**

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Competition on the lucrative Lagos-London air route has intensified as foreign airlines aggressively reduce ticket prices, undercutting rates offered by Nigeria’s Air Peace, the sole domestic carrier on the route.

Earlier this year, Air Peace launched its Lagos-London flight, setting economy class fares at N1.2 million, significantly lower than competitors. However, foreign airlines have since slashed their prices, driving down fares across the board.

For instance, British Airways has dropped its economy class fare from N3.5 million to N605,000, while Qatar Airways and Ethiopian Airlines offer tickets at N870,000 and N892,000 respectively. Business class fares also saw reductions, with Air Peace leading at N2.5 million, followed by Royal Air Moroc at N2.6 million.

Industry analysts attribute the price war to Air Peace’s entry into the market and the upcoming competition from Emirates Airlines. They suggest that Air Peace adjust its pricing strategy and enhance service offerings to remain competitive in the face of heightened foreign airline competition.

Susan Akporaiye, former president of the National Association of Nigerian Travel Agencies (NANTA), highlighted that the exchange rate fluctuations also influenced fare adjustments, with ticket prices now ranging from N800,000 to N1 million due to improved exchange rates.

John Ojikutu, CEO of Centurion Aviation Security and Safety Consult, urged government support for Air Peace to maintain a healthy competitive environment, proposing restrictions on foreign airlines to bolster domestic carriers.

This development marks a pivotal moment in Nigeria’s aviation sector, with stakeholders closely monitoring how Air Peace and other airlines navigate the evolving competitive landscape on international routes.

Naija247news
Naija247newshttps://www.naija247news.com/
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

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