Domestic airline operators in Nigeria are to raise their fares by 30% following an increase in the cost of leasing aircraft as well as higher insurance premiums, the local media reported Monday.
The report said the recent classification of Nigeria among ”high risk nations” have raised the cost of leasing an aircraft by 60%.
It is also believed that the recent crashes involving Nigerian airlines have led to higher insurance premiums for the country’s operators.
On 3 June, a DANA Air MD-83 plane flying from the inland capital city of Abuja to the economic capital city of Lagos crashed into a residential area on the outskirts of the city, killing at least 150.
When the planned increase in fares is effected, the price of a round trip ticket for a one-hour flight will increase to between 37,000 (US$231) and 42,000 Naira (US$262), from the current average of 28,000 (US$175) and 33,000 Naira (US$206).
The increase will be the second in recent times, coming closely on the heels of a 20 per cent hike in fares by the airlines.
Nigeria’s domestic airline operators have been groaning under tough operational conditions, including rising cost of fuel.