Despite rising Jet A1 fuel costs and the unabated  foreign exchange scarcity, prices of domestic flight in Nigeria have plunged, leaving passengers with multiple choices.

The development follows a significant drop in passenger traffic during the first quarter of 2024.

In February, Daily Sun reported how major domestic airlineswhich included; Air Peace, Dana Air and Ibom Air offered economy flight tickets for most destinations at N140,000, a sharp rise from the January average of N89,000. However, the situation has changed with majority of the airlines offering significantly lower fares to attract passengers. Dana Air, for instance, is currently selling its economy tickets for as low as N64, 800 on their website for those who wish to travel to Abuja from Lagos on April 30th.

Daily Sun had earlier reported that Air Peace sold economy class tickets on the Lagos-Abuja route for N143,000 for the major part of February time slots. This pricing also extended to flights leaving  Abuja to Asaba. Passengers flying economy class from Calabar to Lagos, Lagos to Benin, and Lagos to Anambra during the same period were subjected to the same N143,000 fare. Also, ValueJet offered the same amount for their economy class tickets on the Lagos-Abuja route.

However,  current findings on the airlines’ websites reveals a significant drop in airfare. As of today, economy class tickets on the Lagos-Abuja route for all time slots on Air Peace are available for N85,000 for travel on April 30th. This same pricing applies to flights from Abuja to Asaba scheduled for the same date. Passengers traveling economy class from Calabar to Lagos can now expect to pay N100,000, while flights from Lagos to Benin and Lagos to Anambra have dropped to N85,000 and N100,000 respectively.

In February, United Nigeria Airline sold economy class tickets at a rate of N142,500 for all the listed routes departing from Abuja. This included flights to Anambra, Lagos, Sokoto, Enugu, and Bayelsa.  But, as of April 30th, the prices have significantly decreased for some destinations. For instance, a flight from Abuja to Anambra now costs N100,000, representing a decrease of N42,500. Also, travelers flying from Lagos to Kano can now expect to pay N70,000, a decrease of N72,500 compared to February fares.

Ibom Air also witnessed a decrease in fares on the Lagos-Uyo route, with the current fare at N96,000, down from N150,000 in March. Information for other Ibom Air routes (Lagos to Calabar and Enugu) was not available for April 30th. Aero Contractors also showed a reduction in airfare for the Lagos-Abuja route, with the current price at N75,000, representing a decrease of N28,700 compared to March fares. Data for the Lagos-Kano route on Aero Contractors was unavailable for April 30th.

Passengers who opted for Green Africa last month paid N118,000 for an economy class ticket on the Lagos-Abuja route. Similarly, Arik Air flights from Lagos to Sokoto and Jos cost N244,000 and N142,500 respectively in March. Meanwhile, travelers looking to fly Green Africa on April 30th can now enjoy a significant price reduction, with economy tickets available for N73,000, a decrease of N45,000 compared to March fares.

Off-peak season drives April fare reduction

The increase in the cost of airfare between February and March as reported by Daily Sun could have been due to the depletion of aircraft because in January 2024, the number of operating aircraft in the industry had shrunk to 43, as some of the aircraft that were taken out for checks were still in maintenance facilities overseas at the time. But when passenger traffic is low, there tends to be a reduction on air fare, irrespective of other debilitating factors. This pricing strategy is a common practice globally.

Aviation analyst and principal managing partner at Avaero Capital, Sindy Foster, told Daily Sun that the price decrease to the current off-peak period (typically Q1).  During these low-traffic period, airlines strategically adjust fares to attract passengers and cover operational costs, including aircraft maintenance.

“When you are in a low season period such as we are now, airlines try to maximise whatever little revenue they currently get so that they can cover their cost of operation, maintain their aircraft and still operate safely and profitably, even though it is debatable how profitable the aviation industry can possibly be in Nigeria,” she said.