Nigerian airlines seek 45 per cent increase in fares – Today.ng

The current spike in the exchange rate of the dollar to the naira may be taking its toll on the country’s foreign-exchange-dependent aviation sector as airline operators seek to increase their fares by 45 per cent.

The dollar exchange rate, which currently stands at N350, according to the airline operators, has further pushed the cost of running the business beyond them.

Some operators said that their plight was not helped by the Nigerian Civil Aviation Authority (NCAA) disapproval of a new air fare regime that should have officially gone up by 45 per cent, to keep pace with the dollar rate.

Some airlines, however, appear to have resorted to self-help in raising ticket prices for over-the-counter purchase.

The act, which is described as a sharp practice by NCAA’s rules, has seen some tickets gone up by N10, 000 to N20, 000, depending on the airline and the time of purchase.

Read more at https://www.today.ng/business/159464/nigerian-airlines-seek-45-cent-increase-fares