Air Peace, one of Nigeria’s leading airlines, is set to increase domestic flight fares, effective November 1, 2024. This information emerged from an internal memo that recently circulated on social media, initially intended for the airline’s private partners.
A senior Air Peace staff member, who requested anonymity, confirmed the memo’s authenticity to Nairametrics, stating, “Our intention was for the memo to remain strictly within our network of private partners, but it unfortunately leaked. Indeed, the fare review will take effect from November 1, 2024.”
The memo outlines significant fare hikes across various classes. For business class, the fare under booking class “J” will rise from ₦250,000 to ₦400,000, marking a 60% increase. Similarly, class “C” will see a 65% hike, increasing from ₦200,000 to ₦330,000.
Economy class fares will also experience notable increases. Class “Y” will double from ₦150,100 to ₦300,000. Other economy fares will range from ₦120,000 to ₦210,000, reflecting varied adjustments across categories.
The revised fares are applicable for flights booked from November 1 onward, while current fares will remain valid for bookings made on or before October 31. The memo also notes that the new fares will be refundable, with no change fees for modified bookings. However, the no-show fee will increase from ₦10,000 to ₦15,000 to encourage better booking management.
These fare changes occur amid a challenging operating environment for Nigerian airlines, which are grappling with rising operational costs, limited access to foreign exchange, currency depreciation, and fluctuating fuel prices. As these economic pressures persist, frequent domestic travelers may need to adjust to the new pricing landscape, potentially impacting demand on key routes.
Although the fare adjustments aim to sustain Air Peace’s operations, they underscore the broader financial challenges facing airlines across the country. As of now, Air Peace has not issued an official statement regarding the leaked memo.