Festus Keyamo stated that to reduce ticket prices, the government will help domestic airlines acquire aircraft at a reduced rateThis followed the FCCPC’s announcement that it would investigate claims of unfair business practices in the aviation sectorThe avaition minister claimed that the impact of the exchange rate on all aspects of aviation is the reason for the high cost of tickets
Henzodaily.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.
Festus Keyamo, minister of aviation and aerospace development, said his ministry will assist domestic carriers in obtaining aircraft at lower prices to lower ticket costs.
Aviation minister said Nigeria will participate in a significant international aircraft conference. Photo Credit: FG, Contributor
Source: Getty Images
Keyamo said this on Sunday’s “This Morning” show on Arise News.
This followed report that the Federal Competition and Consumer Protection Commission (FCCPC) declared on December 1 that it will look into allegations of unfair business practices in the aviation industry.
The FCCPC claims that accusations of exploitative ticket pricing, particularly large price increases for advance bookings on specific domestic routes, are the reason behind the investigation into Nigerian airline Air Peace Limited.
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Air Peace replies FCPPC, insists airfares are affordable: “We are a proud Nigerian airline”
The Cable however reported that the accusations of predatory fares were deemed unjust and detrimental by Air Peace.
How Keyamo reacts
Keyamo commented on the trend, stating that the high ticket prices are a result of the exchange rate’s impact on all facets of aviation, including routine maintenance like changing a tire bolt.
“What we are therefore doing is to ensure that we expose them to the market across the world where they can assess aircraft on very good terms. This will impact on the prices of tickets and their cost of operation,” he said.
“That is what led us to address the issue of the practice direction pursuant to the Cape Town Convention, that is the core of the problem of the aviation industry that this president and the vice president graciously supported us to get to.”
A practice directive for the Cape Town Convention (CTC) was signed by the federal government on September 12 to facilitate domestic airline companies’ access to dry-lease aircraft.
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FCCPC speaks on investigating Air Peace over alleged exploitative ticket pricing
Keyamo noted that, Nigeria will participate in a significant international aircraft conference to discuss other aviation issues in January.
“In January, all the airlines in Nigeria, all insurance companies including the National Insurance Commission and the National Assembly leadership on insurance and aviation are all going to Dublin between the 12th and the 18th,” he said
NCAA sends important message to pilots
Henzodaily.ng reported that pilots in particular have been cautioned by the Nigeria Civil Aviation Authority not to work for more than one airline at the same time while using the privilege simulators and competency assessments that are allowed by their licenses.
According to the authority, such conduct would be seen as a major safety hazard and a violation of NCAA regulations.
A circular titled “Prohibition of Ad-Hoc Flight Operators for Multiple Airlines Background,” issued on November 6, 2024, to all aircraft operators was issued by Chris Najomo, the acting director-general of the NCAA.
Source: Henzodaily.ng