There are signs indicating the commencement of a price war on the lucrative London route subsequent to Air Peace’s entry. CEO Allen Onyema alleges that foreign airlines have significantly reduced their fares to hinder Air Peace. He noted that prior to Air Peace’s entry, these airlines charged exorbitant prices, but now prices have dropped drastically,Daily Trust reports.
Air Peace, Nigeria’s largest domestic carrier, initiated the Lagos-London route on March 30, nearly seven years after a Nigerian carrier operated the route. The entry of Air Peace drastically lowered fares, with one-way tickets dropping to as low as $600 from over $2000. Onyema accuses foreign airlines of maliciously undercutting fares to undermine Air Peace.
In response, Dr. Kingsley Nwokoma, an aviation analyst and President of AFARN, refutes claims that Air Peace’s entry solely caused the fare reductions. He attributes the reduction in fares to government engagement with foreign airlines to decrease ticket prices and stabilize exchange rates.
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Dr. Gbenga Olowo commends Air Peace for its initiative but advises them to be prepared for aero-politics—where foreign airlines compete strategically for commercial advantage. He emphasizes the importance of understanding and navigating these dynamics while appreciating government support.
