The Airline Operators of Nigeria (AON) have highlighted the significant challenges faced by the country's aviation sector and discussed the potential impact on flight ticket prices. Obiora Okonkwo, spokesperson for AON and chairman of United Nigeria Airlines, addressed these issues during an interview on Arise TV.
Amidst the current volatility in operational costs, Okonkwo mentioned that the actual cost of a flight ticket for the Lagos-Abuja route should be around N250,000. Presently, economy flight tickets for the same route are available at prices ranging from N51,000 to N95,000, depending on the airline.
Okonkwo emphasized that local airline operators are making sacrifices to keep ticket prices affordable. He expressed that those who perceive tickets as expensive might not fully appreciate the patriotism and efforts of local operators to maintain reasonable fares.
He elaborated, "If we consider the fluctuating costs on a daily basis, a more accurate fare from Lagos to Abuja would be no less than N250,000."
The spokesperson pointed out that Nigerian airlines have been facing substantial financial losses, with a minimum loss of "$2 million every month" between December 2022 and May 2023. Despite these challenges, the airlines have continued their operations, taking into account the country's economic conditions.
Okonkwo attributed various factors such as currency fluctuations, elections, uncertainties, and a sluggish economy to the issues affecting the aviation industry during the specified period.
He further explained that despite the losses, the domestic airlines have managed to absorb these challenges, avoiding a shutdown of operations. He also expressed his hope that Nigerians would better understand the complex situation faced by the aviation sector.
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