Air Peace faces tough competition on London Route as currency rebounds

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Air Peace recently launched flights on the Nigeria-London route, sparking intense competition with established foreign airlines.

The airline’s inaugural flight on March 31, 2024, marked a significant milestone, boasting a Boeing 777 aircraft with 274 seats and carrying 260 passengers from Lagos to London. However, its success may hinge on more than just competitive pricing, as analysts emphasize the need for government support and a strategic approach to maintain competitiveness in the long term.

Air Peace CEO, Allen Onyema, voiced concerns about foreign airlines undercutting prices to edge out competition. This trend, coupled with the strengthening of the local currency against the US dollar and the release of airlines’ trapped funds by the Central Bank of Nigeria, has led to a continuous decline in air ticket prices, intensifying the battle for market share on international routes.

Source: Punch

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