Air Peace, Nigeria’s local airline, may find itself struggling to compete on its recently launched Lagos-London-Lagos route as foreign airlines intensify a price war against the carrier, according to reports by Okay.ng.
Since Air Peace commenced flights on the Lagos-London route, more foreign airlines have significantly reduced their airfares, posing a challenge to the Nigerian carrier. Prior to Air Peace’s entry, passengers traveling from Nigeria to London faced steep prices, with economy class tickets costing around N3.5 million and business class exceeding N7 million.
For example, British Airways, which previously charged N3 million for economy class and N11 million for business class on the Lagos-London route, has slashed its fares to N1.7 million for economy and N6.8 million for business class. Similarly, Lufthansa and Virgin Atlantic have also reduced their fares substantially.
Aviation experts, including travel agents, attribute this reduction in costs to multiple factors, including the entry of Air Peace into the market, the reopening of lower inventories following the clearance of trapped funds by the federal government, and the supply of Jet A1 to Air Peace by Dangote Refinery.
As the price war intensifies, foreign airlines have continued to lower their fares. Egyptair, for instance, dropped its Lagos-London economy ticket price to $470, while Air Peace’s London to Lagos trip now goes for $655. Other airlines, such as British Airways, Virgin Atlantic, and Royal Air Maroc, have also adjusted their fares significantly.
RwandAir, Ethiopian Air, Turkish Airlines, Air France, and KLM are among the other carriers that have lowered their prices, offering competitive rates compared to previous years.
