In a groundbreaking move, Nigeria’s leading carrier, Air Peace, has revolutionized air travel between Lagos and London by slashing its economy class ticket prices to N1.2 million, marking a remarkable 66% reduction in fares for this route.
Foreign airlines, according to BusinessDay’s findings, typically charge an average of N3.5 million for economy class tickets on the Lagos-London route. With Air Peace’s bold pricing strategy, this significant reduction in ticket costs signals a paradigm shift in the competitive landscape.
Once enjoying exclusive dominance with direct flights from Lagos to London, British Airways now faces formidable competition from Air Peace, which will operate flights from Lagos to Gatwick London, offering passengers a compelling alternative.
Air Peace officially unveiled its flight schedules for its London service, set to commence on March 30, 2024. The airline announced that a return economy class ticket would be priced at 1,200,000 naira, with a return business class ticket available for 4,000,000 naira. Additionally, Nigerian students studying in the UK can avail themselves of a special 15% rebate on the already reduced economy fares.
The airline’s move to introduce competitive pricing was well received, particularly by industry experts and travel agents. Ndukwe Ginika Ogechi, CEO of Geena Travels And Tours Ltd, praised Air Peace’s fares as attractive compared to other carriers, foreseeing heightened competition on the route in the near future.
John Ojikutu, an industry expert and CEO of Centurion Aviation Security and Safety Consult, Nigeria, expressed optimism about the competitive landscape’s transformation, urging governmental support for Air Peace in its endeavor to challenge the dominance of foreign carriers.
Amidst rising airfares over the past two years, attributed to accumulating trapped funds of foreign airlines in Nigeria due to exchange rate fluctuations, Air Peace’s bold pricing strategy offers a glimmer of hope for travelers seeking affordable options.
Bankole Bernard, chairman of Airlines and Passengers’ Joint Committee (APJC) of the International Air Transport Association (IATA), hailed Air Peace’s London flight as a welcome development, emphasizing its potential to rebalance trade dynamics and reduce dependence on foreign carriers.
Oluwatoyin Olajide, Air Peace’s chief operating officer, highlighted the airline’s commitment to providing a superior travel experience with its Boeing 777 and Boeing 787 Dreamliner aircraft. With its expansion into the lucrative Lagos-London route, Air Peace continues to solidify its position as a trailblazer in Nigeria’s aviation industry.
