In Search For Forex, Nigerian Airlines Now Peg Local Fare In Dollars

Foreign exchange scarcity has made Nigerian airlines to request dollar for fares of local trips.

Airlines like Ibom Air, Air Peace and United Nigeria have pegged their prices in dollar on trips within the country.

Azman Air and Arik Air have not adopted the new strategy.

Airlines in the country are suffering shortage of dollars to service their aircrafts and pay insurance obligations abroad.

Most airlines have their planes trapped abroad or packed in the country due to the dollar woes.

But in a new development, Air Peace economy ticket from Lagos to Abuja now cost between $160 to $186, while from Lagos to Warri costs between $186 to $227, details of bookings on its website reveals.

Ibo Air is charging between $205.55 to $266.67 from Abuja to Lagos for a one-way economy ticket and $222.23 to $266.67 for Abuja to Lagos economy trips.

United Nigerian also has adopted the payment of dollars for tickets. Outbound trips from Abuja to Anambra costs $183, while Lagos to Abuja economy tickets sell from between $183 to $199.

In August, Turkish Airlines and British Airways said they will no longer issue tickets to passengers in Naira due to $465m unrepatriated revenue belonging to them.

But the Central Bank of Nigeria Governor, Godwin Emefiele and the Minister of Aviation, Hadi Sirika threatened to sanction airlines selling fares to Nigerians in dollars.

At the 287th Monetary Policy Meeting, Emefiele had noted that local airlines charging Naira for trips will reduce burden of buying dollars from the CBN.

He said people using “airlines will pay naira, they pay naira and they (airlines) will not come to the Central Bank or any bank to say they want to remit their sales.”