Air Peace, a leading Nigerian airline, is set to increase its domestic flight fares from November 1, 2024. This information was obtained from an internal memo that went viral on social media, revealing significant adjustments across both business and economy class fares. A senior source within the airline confirmed the authenticity of the memo to Nairametrics, stating that it was initially meant for private partners but was unintentionally leaked to the public.
The leaked memo detailed the revised fare structure, showing a notable hike in ticket prices. Business class fares under booking class “J” will rise from ₦250,000 to ₦400,000, marking a 60% increase, while class “C” fares will increase by 65%, from ₦200,000 to ₦330,000. Economy class will also see substantial adjustments, with class “Y” doubling from ₦150,100 to ₦300,000. Other economy fares will range between ₦120,000 and ₦210,000, reflecting varied increases across different categories. The memo confirmed that the existing fares will still be applicable for flights booked up to October 31, 2024, while the new rates will come into effect on November 1.
The fare adjustment comes amid tough economic conditions for domestic airlines in Nigeria, including rising operational costs, limited access to foreign exchange, currency depreciation, and fluctuating fuel prices. The airline industry has been struggling to manage these challenges, forcing carriers like Air Peace to review fare structures to sustain operations.
The internal memo also highlighted changes in booking policies. All new fares will be refundable, and no fees will apply to modified bookings. However, the no-show fee has increased from ₦10,000 to ₦15,000 to encourage better booking management. The following table from the memo outlines the updated fare structure:
| Cabin | Booking Class | Old Fare (₦) | New Fare (₦) |
|---|---|---|---|
| Business | J | 250,000 | 400,000 |
| Business | C | 200,000 | 330,000 |
| Economy | Y | 150,100 | 300,000 |
| Economy | S | 130,000 | 280,000 |
| Economy | B | 120,000 | 250,000 |
| Economy | H | 110,200 | 210,000 |
| Economy | K | 105,200 | 190,000 |
| Economy | L | 90,000 | 170,000 |
| Economy | M | 85,000 | 150,000 |
| Economy | N | 80,000 | 120,000 |
| Economy | T | 70,000 | 100,000 |
| No Show Fee | All | 10,000 | 15,000 |
As of now, Air Peace has not released an official public statement addressing the memo or the fare changes. However, with these new pricing adjustments, frequent travelers might need to prepare for a shift in the cost of domestic air travel, as the airline adapts to the ongoing economic pressures.
