Airlines hike airfares by 100% as operating costs rise

N5bn bailout fund

The cost of air tickets along several routes have doubled due to the high demand for air travel in light of the rising insecurity in the country and cost of flight operations, findings have shown. Checks on several airline websites showed that even intending passengers who booked their flights days ahead of departure were also affected. A check on Friday on the website of Max Air showed that a one-way ticket from Maiduguri to Lagos for Saturday was put at N100,000 while the same flight costs N70,000 for Monday. A…

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Sirika to airlines: Calm down, govt is not reason for your woes

Govt is not reason for your woes, Sirika cautions airlines

Hadi Sirika, Nigeria’s minister of aviation, has cautioned members of the Airlines Operators of Nigeria (AON) against accusing his ministry and aviation regulatory agencies for the unfavourable operating environment and decline in their profits. Sirika gave the caution at the Senate during the closing session of a three-day public hearing on the six executive bills to restructure the aviation sector. The minister was reacting to claims by the AON that unfavourable business environment was caused by poor government policies as they affect the sector. The Chairman, Chief Executive Officer of…

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IATA warns global carriers on cost, revenues

ACI World, IATA in joint push for globally consistent approach to testin

The International Air Transport Association (IATA) has cautioned airlines that to keep their operations afloat, there is the need to align their operating costs in line with their revenues. Alexander de Juniac, chief executive officer (CEO) of the global airlines’ regulator, said without working on that formula there will be disruptions in air transport value chain. Speaking in an online interview, Juniac said careful management of costs will likely not see costs fall in proportion to reductions in flying. De Juniac said: “Doing that is a difficult balancing act because…

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Local airlines besiege CBN for N27bn aviation bailout fund

Local airlines besiege CBN for N27bn aviation bailout fund

Local airlines in Nigeria have bombarded the Central Bank of Nigeria (CBN) with application for their own cut of the N27 billion aviation bailout fund proposed by the Federal Government. Report indicated that no fewer than 18 of the operating local airlines, including three commercial airlines – Dana Air, Max Air and Azman Air,  and some others whose operations have been grounded in the last two years, are on the list of applicants for the relief fund. However, Air Peace, Arik Air, Aero Contractors, Ibom Air, and Overland Airways were…

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