Global instability, Others to blame for Aviation challenges -Expert

The continuing high outbound flights out of Nigeria has been attributed to what is called a Jackpot Syndrome.

Aviation expert and member of the Aviation Roundtable, Olumide Ohunayo, disclosed this while speaking on the Aviation sector in Nigeria.

Mr Ohunayo spoke to TVC News Nigeria’s Kelly Egiga on Business Nigeria.

He added that the issue of the sudden rise in the price of Aviation fuel has also contributed in no small measure to the rise in prices.

He said the non repatriation of profits of Airlines has also ensured that they have raised fares on all flights with Nigerians now buying ticket mainly through people from outside the Country.

He also described as a good thing that despite losing some major Airlines to running costs, 3 new Airlines have come up.

He identified insecurity as another major reason why Airlines will always get more patronage as the Roads and rails are no longer secure enough for passengers.

 

Read More below…

“Well, you talk about hiking in international affairs and the reasons you have also analyzed one of them which most importantly now is the issue the Jackpot Syndrome. The Jackpot syndrome has made the outbound to be full just by the hiking price. Again, it has this crazy demand for international flights. We get full from the upper class, the lower class. The upper class is predominantly dominated by the public travel players and the Nigerians that want to always have class. So if your upper class is filled with the brain, definitely the fears is also affects the fees that are available in the lower phase in the lower class. Now the issue of the non repatriation of funds of the foreign airlines which has made them close the promotional fares in Nigeria, which is the open outside the cost. If you’re paying the money from outside Nigeria, you can see some of those fares today.

It is cheaper to buy a ticket from outside Nigeria. So whichever way the cabin gets full because it’s cheaper to come home from outside. And the Jackpot Syndrome is also filling the outbound journey. So whichever way the foreign airlines are having their cabin full to get their phones that are tied in their accounts in a year and not be limited to sharing to the help of setup bank.
That fund is one of the reasons why they have closed the lower classes. And that has made a ticket very expensive. It’s a responsibility to remove those fares because it’s signed in the BASA agreement, it’s an international trade agreement that is signed and is binding all parties. It is a responsibility to remedy those funds to the central bank and the official. It is only acceptable and normal rate in IATA and by law not a black market rate. I’m also wondering perhaps how this strain affects our relationship with international community and other airlines as well other airlines operators.

There’s always a price to pay when you have not shown respect and substantive agreements when you have not allowed investors to get their funds out investors belong to a committee, they’re not a carrier that even carriers have a union. So once you try to impede one investor, it does go to the committee and do it for you. First of all. Would have difficulty in getting businesses to come in cannot remit response again the cost of getting an aircraft for Lease jack up because they would want to ensure that they make losses so they would put some stringed condition.

Make us pay more again. Insurance also would come up would also go up due to the cost in remittance other issues which has to do with credit that would affect the insurance fee and we might not even be able to expand our buyers. We might not feel it because we are not operated at the moment the forensic that are coming we are not going to operate also have some of those problems attached to them from countries that are kind of the potential problems here on our own carrier when we start to operate.

What they’re talking about there is about a load factor. If you get load factor right, the revenue will also return to the pre-pandemic. It’s not easy to return to pre-pandemic because as we’re coming to the pandemic and preparing to see how the industry can leverage all the pains of the pandemic that came the high cost of fuel and the Russian Ukraine war which has also affected travel.

Affected the cost of average of fuel and also the cost of tickets which has risen rolled over but in comparison with the astronomical increases of the Nigerian routes so that has affected travel and once you expect some drop in the leisure passengers for some countries and also you expect that frequencies would reduce and the size of aircraft also reduced.

So when all those comes to place, there’s no way you can meet up with a pre-pandemic level that was targeted before, but then the airlines are getting through reduce the capacity. The airports themselves are also reducing capacity of airlines that can come into the airport, reducing number of frequencies into the airport and that has also affected us getting to the pre-pandemic level.

It’s a global issue, but the good thing about it is that new airlines are coming up as we’re losing some. We are also getting more airlines in the air as of today. Now we have a value joined Nigerian Aviation industry yesterday as a new entrant in fact Ibom Air and Green Africa.

These are the three airlines that have joined the Nigerian. If not for the political reasons you have gotten an agile equal from AMCON being the fourth carrier. We are almost set before the political abracadabra came in and stopped them from flying. Yes, so I mean we are battling with economic hardships. There’s the Jackpot syndrome.

But within the country domestic flights, most flights, air tickets or flights are packed at somewhere around 70,000 and even more. So I’m wondering within the country what exactly could we also be feeling this hike in Fares as well just to travel the country had issues. One of those joining this period two of the most prominent airlines had to go ground aero contractors and Dana Airlines.
These are airlines that are very active. Who had very good schedules and then by going down they reduced the capacity on the domestic flow because the capacity was reduced and coupled with the demand that is forced on us. Not because we are good. But because of insecurity in the country passengers are duty bound to fly as the only option as the road and rail has come very unsafe. So that has pushed pressure on the local aviation and also affected the fares outside that the capacity issue. There’s also the cost of aviation fuel. We did not refine aviation fuel in Nigeria. I don’t think we have any plan to do that in the near future causing a statement, but presently we’re all aware that the narrow is crazy”.

The continuing high outbound flights out of Nigeria has been attributed to what is called a Jackpot Syndrome.

Aviation expert and member of the Aviation Roundtable, Olumide Ohunayo, disclosed this while speaking on the Aviation sector in Nigeria.

Mr Ohunayo spoke to TVC News Nigeria’s Kelly Egiga on Business Nigeria.

He added that the issue of the sudden rise in the price of Aviation fuel has also contributed in no small measure to the rise in prices.

He said the non repatriation of profits of Airlines has also ensured that they have raised fares on all flights with Nigerians now buying ticket mainly through people from outside the Country.

He also described as a good thing that despite losing some major Airlines to running costs, 3 new Airlines have come up.

He identified insecurity as another major reason why Airlines will always get more patronage as the Roads and rails are no longer secure enough for passengers.

 

Read More below…

“Well, you talk about hiking in international affairs and the reasons you have also analyzed one of them which most importantly now is the issue the Jackpot Syndrome. The Jackpot syndrome has made the outbound to be full just by the hiking price. Again, it has this crazy demand for international flights. We get full from the upper class, the lower class. The upper class is predominantly dominated by the public travel players and the Nigerians that want to always have class. So if your upper class is filled with the brain, definitely the fears is also affects the fees that are available in the lower phase in the lower class. Now the issue of the non repatriation of funds of the foreign airlines which has made them close the promotional fares in Nigeria, which is the open outside the cost. If you’re paying the money from outside Nigeria, you can see some of those fares today.

It is cheaper to buy a ticket from outside Nigeria. So whichever way the cabin gets full because it’s cheaper to come home from outside. And the Jackpot Syndrome is also filling the outbound journey. So whichever way the foreign airlines are having their cabin full to get their phones that are tied in their accounts in a year and not be limited to sharing to the help of setup bank.
That fund is one of the reasons why they have closed the lower classes. And that has made a ticket very expensive. It’s a responsibility to remove those fares because it’s signed in the BASA agreement, it’s an international trade agreement that is signed and is binding all parties. It is a responsibility to remedy those funds to the central bank and the official. It is only acceptable and normal rate in IATA and by law not a black market rate. I’m also wondering perhaps how this strain affects our relationship with international community and other airlines as well other airlines operators.

There’s always a price to pay when you have not shown respect and substantive agreements when you have not allowed investors to get their funds out investors belong to a committee, they’re not a carrier that even carriers have a union. So once you try to impede one investor, it does go to the committee and do it for you. First of all. Would have difficulty in getting businesses to come in cannot remit response again the cost of getting an aircraft for Lease jack up because they would want to ensure that they make losses so they would put some stringed condition.

Make us pay more again. Insurance also would come up would also go up due to the cost in remittance other issues which has to do with credit that would affect the insurance fee and we might not even be able to expand our buyers. We might not feel it because we are not operated at the moment the forensic that are coming we are not going to operate also have some of those problems attached to them from countries that are kind of the potential problems here on our own carrier when we start to operate.

What they’re talking about there is about a load factor. If you get load factor right, the revenue will also return to the pre-pandemic. It’s not easy to return to pre-pandemic because as we’re coming to the pandemic and preparing to see how the industry can leverage all the pains of the pandemic that came the high cost of fuel and the Russian Ukraine war which has also affected travel.

Affected the cost of average of fuel and also the cost of tickets which has risen rolled over but in comparison with the astronomical increases of the Nigerian routes so that has affected travel and once you expect some drop in the leisure passengers for some countries and also you expect that frequencies would reduce and the size of aircraft also reduced.

So when all those comes to place, there’s no way you can meet up with a pre-pandemic level that was targeted before, but then the airlines are getting through reduce the capacity. The airports themselves are also reducing capacity of airlines that can come into the airport, reducing number of frequencies into the airport and that has also affected us getting to the pre-pandemic level.

It’s a global issue, but the good thing about it is that new airlines are coming up as we’re losing some. We are also getting more airlines in the air as of today. Now we have a value joined Nigerian Aviation industry yesterday as a new entrant in fact Ibom Air and Green Africa.

These are the three airlines that have joined the Nigerian. If not for the political reasons you have gotten an agile equal from AMCON being the fourth carrier. We are almost set before the political abracadabra came in and stopped them from flying. Yes, so I mean we are battling with economic hardships. There’s the Jackpot syndrome.

But within the country domestic flights, most flights, air tickets or flights are packed at somewhere around 70,000 and even more. So I’m wondering within the country what exactly could we also be feeling this hike in Fares as well just to travel the country had issues. One of those joining this period two of the most prominent airlines had to go ground aero contractors and Dana Airlines.
These are airlines that are very active. Who had very good schedules and then by going down they reduced the capacity on the domestic flow because the capacity was reduced and coupled with the demand that is forced on us. Not because we are good. But because of insecurity in the country passengers are duty bound to fly as the only option as the road and rail has come very unsafe. So that has pushed pressure on the local aviation and also affected the fares outside that the capacity issue. There’s also the cost of aviation fuel. We did not refine aviation fuel in Nigeria. I don’t think we have any plan to do that in the near future causing a statement, but presently we’re all aware that the narrow is crazy”.

The continuing high outbound flights out of Nigeria has been attributed to what is called a Jackpot Syndrome.

Aviation expert and member of the Aviation Roundtable, Olumide Ohunayo, disclosed this while speaking on the Aviation sector in Nigeria.

Mr Ohunayo spoke to TVC News Nigeria’s Kelly Egiga on Business Nigeria.

He added that the issue of the sudden rise in the price of Aviation fuel has also contributed in no small measure to the rise in prices.

He said the non repatriation of profits of Airlines has also ensured that they have raised fares on all flights with Nigerians now buying ticket mainly through people from outside the Country.

He also described as a good thing that despite losing some major Airlines to running costs, 3 new Airlines have come up.

He identified insecurity as another major reason why Airlines will always get more patronage as the Roads and rails are no longer secure enough for passengers.

 

Read More below…

“Well, you talk about hiking in international affairs and the reasons you have also analyzed one of them which most importantly now is the issue the Jackpot Syndrome. The Jackpot syndrome has made the outbound to be full just by the hiking price. Again, it has this crazy demand for international flights. We get full from the upper class, the lower class. The upper class is predominantly dominated by the public travel players and the Nigerians that want to always have class. So if your upper class is filled with the brain, definitely the fears is also affects the fees that are available in the lower phase in the lower class. Now the issue of the non repatriation of funds of the foreign airlines which has made them close the promotional fares in Nigeria, which is the open outside the cost. If you’re paying the money from outside Nigeria, you can see some of those fares today.

It is cheaper to buy a ticket from outside Nigeria. So whichever way the cabin gets full because it’s cheaper to come home from outside. And the Jackpot Syndrome is also filling the outbound journey. So whichever way the foreign airlines are having their cabin full to get their phones that are tied in their accounts in a year and not be limited to sharing to the help of setup bank.
That fund is one of the reasons why they have closed the lower classes. And that has made a ticket very expensive. It’s a responsibility to remove those fares because it’s signed in the BASA agreement, it’s an international trade agreement that is signed and is binding all parties. It is a responsibility to remedy those funds to the central bank and the official. It is only acceptable and normal rate in IATA and by law not a black market rate. I’m also wondering perhaps how this strain affects our relationship with international community and other airlines as well other airlines operators.

There’s always a price to pay when you have not shown respect and substantive agreements when you have not allowed investors to get their funds out investors belong to a committee, they’re not a carrier that even carriers have a union. So once you try to impede one investor, it does go to the committee and do it for you. First of all. Would have difficulty in getting businesses to come in cannot remit response again the cost of getting an aircraft for Lease jack up because they would want to ensure that they make losses so they would put some stringed condition.

Make us pay more again. Insurance also would come up would also go up due to the cost in remittance other issues which has to do with credit that would affect the insurance fee and we might not even be able to expand our buyers. We might not feel it because we are not operated at the moment the forensic that are coming we are not going to operate also have some of those problems attached to them from countries that are kind of the potential problems here on our own carrier when we start to operate.

What they’re talking about there is about a load factor. If you get load factor right, the revenue will also return to the pre-pandemic. It’s not easy to return to pre-pandemic because as we’re coming to the pandemic and preparing to see how the industry can leverage all the pains of the pandemic that came the high cost of fuel and the Russian Ukraine war which has also affected travel.

Affected the cost of average of fuel and also the cost of tickets which has risen rolled over but in comparison with the astronomical increases of the Nigerian routes so that has affected travel and once you expect some drop in the leisure passengers for some countries and also you expect that frequencies would reduce and the size of aircraft also reduced.

So when all those comes to place, there’s no way you can meet up with a pre-pandemic level that was targeted before, but then the airlines are getting through reduce the capacity. The airports themselves are also reducing capacity of airlines that can come into the airport, reducing number of frequencies into the airport and that has also affected us getting to the pre-pandemic level.

It’s a global issue, but the good thing about it is that new airlines are coming up as we’re losing some. We are also getting more airlines in the air as of today. Now we have a value joined Nigerian Aviation industry yesterday as a new entrant in fact Ibom Air and Green Africa.

These are the three airlines that have joined the Nigerian. If not for the political reasons you have gotten an agile equal from AMCON being the fourth carrier. We are almost set before the political abracadabra came in and stopped them from flying. Yes, so I mean we are battling with economic hardships. There’s the Jackpot syndrome.

But within the country domestic flights, most flights, air tickets or flights are packed at somewhere around 70,000 and even more. So I’m wondering within the country what exactly could we also be feeling this hike in Fares as well just to travel the country had issues. One of those joining this period two of the most prominent airlines had to go ground aero contractors and Dana Airlines.
These are airlines that are very active. Who had very good schedules and then by going down they reduced the capacity on the domestic flow because the capacity was reduced and coupled with the demand that is forced on us. Not because we are good. But because of insecurity in the country passengers are duty bound to fly as the only option as the road and rail has come very unsafe. So that has pushed pressure on the local aviation and also affected the fares outside that the capacity issue. There’s also the cost of aviation fuel. We did not refine aviation fuel in Nigeria. I don’t think we have any plan to do that in the near future causing a statement, but presently we’re all aware that the narrow is crazy”.

The continuing high outbound flights out of Nigeria has been attributed to what is called a Jackpot Syndrome.

Aviation expert and member of the Aviation Roundtable, Olumide Ohunayo, disclosed this while speaking on the Aviation sector in Nigeria.

Mr Ohunayo spoke to TVC News Nigeria’s Kelly Egiga on Business Nigeria.

He added that the issue of the sudden rise in the price of Aviation fuel has also contributed in no small measure to the rise in prices.

He said the non repatriation of profits of Airlines has also ensured that they have raised fares on all flights with Nigerians now buying ticket mainly through people from outside the Country.

He also described as a good thing that despite losing some major Airlines to running costs, 3 new Airlines have come up.

He identified insecurity as another major reason why Airlines will always get more patronage as the Roads and rails are no longer secure enough for passengers.

 

Read More below…

“Well, you talk about hiking in international affairs and the reasons you have also analyzed one of them which most importantly now is the issue the Jackpot Syndrome. The Jackpot syndrome has made the outbound to be full just by the hiking price. Again, it has this crazy demand for international flights. We get full from the upper class, the lower class. The upper class is predominantly dominated by the public travel players and the Nigerians that want to always have class. So if your upper class is filled with the brain, definitely the fears is also affects the fees that are available in the lower phase in the lower class. Now the issue of the non repatriation of funds of the foreign airlines which has made them close the promotional fares in Nigeria, which is the open outside the cost. If you’re paying the money from outside Nigeria, you can see some of those fares today.

It is cheaper to buy a ticket from outside Nigeria. So whichever way the cabin gets full because it’s cheaper to come home from outside. And the Jackpot Syndrome is also filling the outbound journey. So whichever way the foreign airlines are having their cabin full to get their phones that are tied in their accounts in a year and not be limited to sharing to the help of setup bank.
That fund is one of the reasons why they have closed the lower classes. And that has made a ticket very expensive. It’s a responsibility to remove those fares because it’s signed in the BASA agreement, it’s an international trade agreement that is signed and is binding all parties. It is a responsibility to remedy those funds to the central bank and the official. It is only acceptable and normal rate in IATA and by law not a black market rate. I’m also wondering perhaps how this strain affects our relationship with international community and other airlines as well other airlines operators.

There’s always a price to pay when you have not shown respect and substantive agreements when you have not allowed investors to get their funds out investors belong to a committee, they’re not a carrier that even carriers have a union. So once you try to impede one investor, it does go to the committee and do it for you. First of all. Would have difficulty in getting businesses to come in cannot remit response again the cost of getting an aircraft for Lease jack up because they would want to ensure that they make losses so they would put some stringed condition.

Make us pay more again. Insurance also would come up would also go up due to the cost in remittance other issues which has to do with credit that would affect the insurance fee and we might not even be able to expand our buyers. We might not feel it because we are not operated at the moment the forensic that are coming we are not going to operate also have some of those problems attached to them from countries that are kind of the potential problems here on our own carrier when we start to operate.

What they’re talking about there is about a load factor. If you get load factor right, the revenue will also return to the pre-pandemic. It’s not easy to return to pre-pandemic because as we’re coming to the pandemic and preparing to see how the industry can leverage all the pains of the pandemic that came the high cost of fuel and the Russian Ukraine war which has also affected travel.

Affected the cost of average of fuel and also the cost of tickets which has risen rolled over but in comparison with the astronomical increases of the Nigerian routes so that has affected travel and once you expect some drop in the leisure passengers for some countries and also you expect that frequencies would reduce and the size of aircraft also reduced.

So when all those comes to place, there’s no way you can meet up with a pre-pandemic level that was targeted before, but then the airlines are getting through reduce the capacity. The airports themselves are also reducing capacity of airlines that can come into the airport, reducing number of frequencies into the airport and that has also affected us getting to the pre-pandemic level.

It’s a global issue, but the good thing about it is that new airlines are coming up as we’re losing some. We are also getting more airlines in the air as of today. Now we have a value joined Nigerian Aviation industry yesterday as a new entrant in fact Ibom Air and Green Africa.

These are the three airlines that have joined the Nigerian. If not for the political reasons you have gotten an agile equal from AMCON being the fourth carrier. We are almost set before the political abracadabra came in and stopped them from flying. Yes, so I mean we are battling with economic hardships. There’s the Jackpot syndrome.

But within the country domestic flights, most flights, air tickets or flights are packed at somewhere around 70,000 and even more. So I’m wondering within the country what exactly could we also be feeling this hike in Fares as well just to travel the country had issues. One of those joining this period two of the most prominent airlines had to go ground aero contractors and Dana Airlines.
These are airlines that are very active. Who had very good schedules and then by going down they reduced the capacity on the domestic flow because the capacity was reduced and coupled with the demand that is forced on us. Not because we are good. But because of insecurity in the country passengers are duty bound to fly as the only option as the road and rail has come very unsafe. So that has pushed pressure on the local aviation and also affected the fares outside that the capacity issue. There’s also the cost of aviation fuel. We did not refine aviation fuel in Nigeria. I don’t think we have any plan to do that in the near future causing a statement, but presently we’re all aware that the narrow is crazy”.

The continuing high outbound flights out of Nigeria has been attributed to what is called a Jackpot Syndrome.

Aviation expert and member of the Aviation Roundtable, Olumide Ohunayo, disclosed this while speaking on the Aviation sector in Nigeria.

Mr Ohunayo spoke to TVC News Nigeria’s Kelly Egiga on Business Nigeria.

He added that the issue of the sudden rise in the price of Aviation fuel has also contributed in no small measure to the rise in prices.

He said the non repatriation of profits of Airlines has also ensured that they have raised fares on all flights with Nigerians now buying ticket mainly through people from outside the Country.

He also described as a good thing that despite losing some major Airlines to running costs, 3 new Airlines have come up.

He identified insecurity as another major reason why Airlines will always get more patronage as the Roads and rails are no longer secure enough for passengers.

 

Read More below…

“Well, you talk about hiking in international affairs and the reasons you have also analyzed one of them which most importantly now is the issue the Jackpot Syndrome. The Jackpot syndrome has made the outbound to be full just by the hiking price. Again, it has this crazy demand for international flights. We get full from the upper class, the lower class. The upper class is predominantly dominated by the public travel players and the Nigerians that want to always have class. So if your upper class is filled with the brain, definitely the fears is also affects the fees that are available in the lower phase in the lower class. Now the issue of the non repatriation of funds of the foreign airlines which has made them close the promotional fares in Nigeria, which is the open outside the cost. If you’re paying the money from outside Nigeria, you can see some of those fares today.

It is cheaper to buy a ticket from outside Nigeria. So whichever way the cabin gets full because it’s cheaper to come home from outside. And the Jackpot Syndrome is also filling the outbound journey. So whichever way the foreign airlines are having their cabin full to get their phones that are tied in their accounts in a year and not be limited to sharing to the help of setup bank.
That fund is one of the reasons why they have closed the lower classes. And that has made a ticket very expensive. It’s a responsibility to remove those fares because it’s signed in the BASA agreement, it’s an international trade agreement that is signed and is binding all parties. It is a responsibility to remedy those funds to the central bank and the official. It is only acceptable and normal rate in IATA and by law not a black market rate. I’m also wondering perhaps how this strain affects our relationship with international community and other airlines as well other airlines operators.

There’s always a price to pay when you have not shown respect and substantive agreements when you have not allowed investors to get their funds out investors belong to a committee, they’re not a carrier that even carriers have a union. So once you try to impede one investor, it does go to the committee and do it for you. First of all. Would have difficulty in getting businesses to come in cannot remit response again the cost of getting an aircraft for Lease jack up because they would want to ensure that they make losses so they would put some stringed condition.

Make us pay more again. Insurance also would come up would also go up due to the cost in remittance other issues which has to do with credit that would affect the insurance fee and we might not even be able to expand our buyers. We might not feel it because we are not operated at the moment the forensic that are coming we are not going to operate also have some of those problems attached to them from countries that are kind of the potential problems here on our own carrier when we start to operate.

What they’re talking about there is about a load factor. If you get load factor right, the revenue will also return to the pre-pandemic. It’s not easy to return to pre-pandemic because as we’re coming to the pandemic and preparing to see how the industry can leverage all the pains of the pandemic that came the high cost of fuel and the Russian Ukraine war which has also affected travel.

Affected the cost of average of fuel and also the cost of tickets which has risen rolled over but in comparison with the astronomical increases of the Nigerian routes so that has affected travel and once you expect some drop in the leisure passengers for some countries and also you expect that frequencies would reduce and the size of aircraft also reduced.

So when all those comes to place, there’s no way you can meet up with a pre-pandemic level that was targeted before, but then the airlines are getting through reduce the capacity. The airports themselves are also reducing capacity of airlines that can come into the airport, reducing number of frequencies into the airport and that has also affected us getting to the pre-pandemic level.

It’s a global issue, but the good thing about it is that new airlines are coming up as we’re losing some. We are also getting more airlines in the air as of today. Now we have a value joined Nigerian Aviation industry yesterday as a new entrant in fact Ibom Air and Green Africa.

These are the three airlines that have joined the Nigerian. If not for the political reasons you have gotten an agile equal from AMCON being the fourth carrier. We are almost set before the political abracadabra came in and stopped them from flying. Yes, so I mean we are battling with economic hardships. There’s the Jackpot syndrome.

But within the country domestic flights, most flights, air tickets or flights are packed at somewhere around 70,000 and even more. So I’m wondering within the country what exactly could we also be feeling this hike in Fares as well just to travel the country had issues. One of those joining this period two of the most prominent airlines had to go ground aero contractors and Dana Airlines.
These are airlines that are very active. Who had very good schedules and then by going down they reduced the capacity on the domestic flow because the capacity was reduced and coupled with the demand that is forced on us. Not because we are good. But because of insecurity in the country passengers are duty bound to fly as the only option as the road and rail has come very unsafe. So that has pushed pressure on the local aviation and also affected the fares outside that the capacity issue. There’s also the cost of aviation fuel. We did not refine aviation fuel in Nigeria. I don’t think we have any plan to do that in the near future causing a statement, but presently we’re all aware that the narrow is crazy”.

The continuing high outbound flights out of Nigeria has been attributed to what is called a Jackpot Syndrome.

Aviation expert and member of the Aviation Roundtable, Olumide Ohunayo, disclosed this while speaking on the Aviation sector in Nigeria.

Mr Ohunayo spoke to TVC News Nigeria’s Kelly Egiga on Business Nigeria.

He added that the issue of the sudden rise in the price of Aviation fuel has also contributed in no small measure to the rise in prices.

He said the non repatriation of profits of Airlines has also ensured that they have raised fares on all flights with Nigerians now buying ticket mainly through people from outside the Country.

He also described as a good thing that despite losing some major Airlines to running costs, 3 new Airlines have come up.

He identified insecurity as another major reason why Airlines will always get more patronage as the Roads and rails are no longer secure enough for passengers.

 

Read More below…

“Well, you talk about hiking in international affairs and the reasons you have also analyzed one of them which most importantly now is the issue the Jackpot Syndrome. The Jackpot syndrome has made the outbound to be full just by the hiking price. Again, it has this crazy demand for international flights. We get full from the upper class, the lower class. The upper class is predominantly dominated by the public travel players and the Nigerians that want to always have class. So if your upper class is filled with the brain, definitely the fears is also affects the fees that are available in the lower phase in the lower class. Now the issue of the non repatriation of funds of the foreign airlines which has made them close the promotional fares in Nigeria, which is the open outside the cost. If you’re paying the money from outside Nigeria, you can see some of those fares today.

It is cheaper to buy a ticket from outside Nigeria. So whichever way the cabin gets full because it’s cheaper to come home from outside. And the Jackpot Syndrome is also filling the outbound journey. So whichever way the foreign airlines are having their cabin full to get their phones that are tied in their accounts in a year and not be limited to sharing to the help of setup bank.
That fund is one of the reasons why they have closed the lower classes. And that has made a ticket very expensive. It’s a responsibility to remove those fares because it’s signed in the BASA agreement, it’s an international trade agreement that is signed and is binding all parties. It is a responsibility to remedy those funds to the central bank and the official. It is only acceptable and normal rate in IATA and by law not a black market rate. I’m also wondering perhaps how this strain affects our relationship with international community and other airlines as well other airlines operators.

There’s always a price to pay when you have not shown respect and substantive agreements when you have not allowed investors to get their funds out investors belong to a committee, they’re not a carrier that even carriers have a union. So once you try to impede one investor, it does go to the committee and do it for you. First of all. Would have difficulty in getting businesses to come in cannot remit response again the cost of getting an aircraft for Lease jack up because they would want to ensure that they make losses so they would put some stringed condition.

Make us pay more again. Insurance also would come up would also go up due to the cost in remittance other issues which has to do with credit that would affect the insurance fee and we might not even be able to expand our buyers. We might not feel it because we are not operated at the moment the forensic that are coming we are not going to operate also have some of those problems attached to them from countries that are kind of the potential problems here on our own carrier when we start to operate.

What they’re talking about there is about a load factor. If you get load factor right, the revenue will also return to the pre-pandemic. It’s not easy to return to pre-pandemic because as we’re coming to the pandemic and preparing to see how the industry can leverage all the pains of the pandemic that came the high cost of fuel and the Russian Ukraine war which has also affected travel.

Affected the cost of average of fuel and also the cost of tickets which has risen rolled over but in comparison with the astronomical increases of the Nigerian routes so that has affected travel and once you expect some drop in the leisure passengers for some countries and also you expect that frequencies would reduce and the size of aircraft also reduced.

So when all those comes to place, there’s no way you can meet up with a pre-pandemic level that was targeted before, but then the airlines are getting through reduce the capacity. The airports themselves are also reducing capacity of airlines that can come into the airport, reducing number of frequencies into the airport and that has also affected us getting to the pre-pandemic level.

It’s a global issue, but the good thing about it is that new airlines are coming up as we’re losing some. We are also getting more airlines in the air as of today. Now we have a value joined Nigerian Aviation industry yesterday as a new entrant in fact Ibom Air and Green Africa.

These are the three airlines that have joined the Nigerian. If not for the political reasons you have gotten an agile equal from AMCON being the fourth carrier. We are almost set before the political abracadabra came in and stopped them from flying. Yes, so I mean we are battling with economic hardships. There’s the Jackpot syndrome.

But within the country domestic flights, most flights, air tickets or flights are packed at somewhere around 70,000 and even more. So I’m wondering within the country what exactly could we also be feeling this hike in Fares as well just to travel the country had issues. One of those joining this period two of the most prominent airlines had to go ground aero contractors and Dana Airlines.
These are airlines that are very active. Who had very good schedules and then by going down they reduced the capacity on the domestic flow because the capacity was reduced and coupled with the demand that is forced on us. Not because we are good. But because of insecurity in the country passengers are duty bound to fly as the only option as the road and rail has come very unsafe. So that has pushed pressure on the local aviation and also affected the fares outside that the capacity issue. There’s also the cost of aviation fuel. We did not refine aviation fuel in Nigeria. I don’t think we have any plan to do that in the near future causing a statement, but presently we’re all aware that the narrow is crazy”.

The continuing high outbound flights out of Nigeria has been attributed to what is called a Jackpot Syndrome.

Aviation expert and member of the Aviation Roundtable, Olumide Ohunayo, disclosed this while speaking on the Aviation sector in Nigeria.

Mr Ohunayo spoke to TVC News Nigeria’s Kelly Egiga on Business Nigeria.

He added that the issue of the sudden rise in the price of Aviation fuel has also contributed in no small measure to the rise in prices.

He said the non repatriation of profits of Airlines has also ensured that they have raised fares on all flights with Nigerians now buying ticket mainly through people from outside the Country.

He also described as a good thing that despite losing some major Airlines to running costs, 3 new Airlines have come up.

He identified insecurity as another major reason why Airlines will always get more patronage as the Roads and rails are no longer secure enough for passengers.

 

Read More below…

“Well, you talk about hiking in international affairs and the reasons you have also analyzed one of them which most importantly now is the issue the Jackpot Syndrome. The Jackpot syndrome has made the outbound to be full just by the hiking price. Again, it has this crazy demand for international flights. We get full from the upper class, the lower class. The upper class is predominantly dominated by the public travel players and the Nigerians that want to always have class. So if your upper class is filled with the brain, definitely the fears is also affects the fees that are available in the lower phase in the lower class. Now the issue of the non repatriation of funds of the foreign airlines which has made them close the promotional fares in Nigeria, which is the open outside the cost. If you’re paying the money from outside Nigeria, you can see some of those fares today.

It is cheaper to buy a ticket from outside Nigeria. So whichever way the cabin gets full because it’s cheaper to come home from outside. And the Jackpot Syndrome is also filling the outbound journey. So whichever way the foreign airlines are having their cabin full to get their phones that are tied in their accounts in a year and not be limited to sharing to the help of setup bank.
That fund is one of the reasons why they have closed the lower classes. And that has made a ticket very expensive. It’s a responsibility to remove those fares because it’s signed in the BASA agreement, it’s an international trade agreement that is signed and is binding all parties. It is a responsibility to remedy those funds to the central bank and the official. It is only acceptable and normal rate in IATA and by law not a black market rate. I’m also wondering perhaps how this strain affects our relationship with international community and other airlines as well other airlines operators.

There’s always a price to pay when you have not shown respect and substantive agreements when you have not allowed investors to get their funds out investors belong to a committee, they’re not a carrier that even carriers have a union. So once you try to impede one investor, it does go to the committee and do it for you. First of all. Would have difficulty in getting businesses to come in cannot remit response again the cost of getting an aircraft for Lease jack up because they would want to ensure that they make losses so they would put some stringed condition.

Make us pay more again. Insurance also would come up would also go up due to the cost in remittance other issues which has to do with credit that would affect the insurance fee and we might not even be able to expand our buyers. We might not feel it because we are not operated at the moment the forensic that are coming we are not going to operate also have some of those problems attached to them from countries that are kind of the potential problems here on our own carrier when we start to operate.

What they’re talking about there is about a load factor. If you get load factor right, the revenue will also return to the pre-pandemic. It’s not easy to return to pre-pandemic because as we’re coming to the pandemic and preparing to see how the industry can leverage all the pains of the pandemic that came the high cost of fuel and the Russian Ukraine war which has also affected travel.

Affected the cost of average of fuel and also the cost of tickets which has risen rolled over but in comparison with the astronomical increases of the Nigerian routes so that has affected travel and once you expect some drop in the leisure passengers for some countries and also you expect that frequencies would reduce and the size of aircraft also reduced.

So when all those comes to place, there’s no way you can meet up with a pre-pandemic level that was targeted before, but then the airlines are getting through reduce the capacity. The airports themselves are also reducing capacity of airlines that can come into the airport, reducing number of frequencies into the airport and that has also affected us getting to the pre-pandemic level.

It’s a global issue, but the good thing about it is that new airlines are coming up as we’re losing some. We are also getting more airlines in the air as of today. Now we have a value joined Nigerian Aviation industry yesterday as a new entrant in fact Ibom Air and Green Africa.

These are the three airlines that have joined the Nigerian. If not for the political reasons you have gotten an agile equal from AMCON being the fourth carrier. We are almost set before the political abracadabra came in and stopped them from flying. Yes, so I mean we are battling with economic hardships. There’s the Jackpot syndrome.

But within the country domestic flights, most flights, air tickets or flights are packed at somewhere around 70,000 and even more. So I’m wondering within the country what exactly could we also be feeling this hike in Fares as well just to travel the country had issues. One of those joining this period two of the most prominent airlines had to go ground aero contractors and Dana Airlines.
These are airlines that are very active. Who had very good schedules and then by going down they reduced the capacity on the domestic flow because the capacity was reduced and coupled with the demand that is forced on us. Not because we are good. But because of insecurity in the country passengers are duty bound to fly as the only option as the road and rail has come very unsafe. So that has pushed pressure on the local aviation and also affected the fares outside that the capacity issue. There’s also the cost of aviation fuel. We did not refine aviation fuel in Nigeria. I don’t think we have any plan to do that in the near future causing a statement, but presently we’re all aware that the narrow is crazy”.

The continuing high outbound flights out of Nigeria has been attributed to what is called a Jackpot Syndrome.

Aviation expert and member of the Aviation Roundtable, Olumide Ohunayo, disclosed this while speaking on the Aviation sector in Nigeria.

Mr Ohunayo spoke to TVC News Nigeria’s Kelly Egiga on Business Nigeria.

He added that the issue of the sudden rise in the price of Aviation fuel has also contributed in no small measure to the rise in prices.

He said the non repatriation of profits of Airlines has also ensured that they have raised fares on all flights with Nigerians now buying ticket mainly through people from outside the Country.

He also described as a good thing that despite losing some major Airlines to running costs, 3 new Airlines have come up.

He identified insecurity as another major reason why Airlines will always get more patronage as the Roads and rails are no longer secure enough for passengers.

 

Read More below…

“Well, you talk about hiking in international affairs and the reasons you have also analyzed one of them which most importantly now is the issue the Jackpot Syndrome. The Jackpot syndrome has made the outbound to be full just by the hiking price. Again, it has this crazy demand for international flights. We get full from the upper class, the lower class. The upper class is predominantly dominated by the public travel players and the Nigerians that want to always have class. So if your upper class is filled with the brain, definitely the fears is also affects the fees that are available in the lower phase in the lower class. Now the issue of the non repatriation of funds of the foreign airlines which has made them close the promotional fares in Nigeria, which is the open outside the cost. If you’re paying the money from outside Nigeria, you can see some of those fares today.

It is cheaper to buy a ticket from outside Nigeria. So whichever way the cabin gets full because it’s cheaper to come home from outside. And the Jackpot Syndrome is also filling the outbound journey. So whichever way the foreign airlines are having their cabin full to get their phones that are tied in their accounts in a year and not be limited to sharing to the help of setup bank.
That fund is one of the reasons why they have closed the lower classes. And that has made a ticket very expensive. It’s a responsibility to remove those fares because it’s signed in the BASA agreement, it’s an international trade agreement that is signed and is binding all parties. It is a responsibility to remedy those funds to the central bank and the official. It is only acceptable and normal rate in IATA and by law not a black market rate. I’m also wondering perhaps how this strain affects our relationship with international community and other airlines as well other airlines operators.

There’s always a price to pay when you have not shown respect and substantive agreements when you have not allowed investors to get their funds out investors belong to a committee, they’re not a carrier that even carriers have a union. So once you try to impede one investor, it does go to the committee and do it for you. First of all. Would have difficulty in getting businesses to come in cannot remit response again the cost of getting an aircraft for Lease jack up because they would want to ensure that they make losses so they would put some stringed condition.

Make us pay more again. Insurance also would come up would also go up due to the cost in remittance other issues which has to do with credit that would affect the insurance fee and we might not even be able to expand our buyers. We might not feel it because we are not operated at the moment the forensic that are coming we are not going to operate also have some of those problems attached to them from countries that are kind of the potential problems here on our own carrier when we start to operate.

What they’re talking about there is about a load factor. If you get load factor right, the revenue will also return to the pre-pandemic. It’s not easy to return to pre-pandemic because as we’re coming to the pandemic and preparing to see how the industry can leverage all the pains of the pandemic that came the high cost of fuel and the Russian Ukraine war which has also affected travel.

Affected the cost of average of fuel and also the cost of tickets which has risen rolled over but in comparison with the astronomical increases of the Nigerian routes so that has affected travel and once you expect some drop in the leisure passengers for some countries and also you expect that frequencies would reduce and the size of aircraft also reduced.

So when all those comes to place, there’s no way you can meet up with a pre-pandemic level that was targeted before, but then the airlines are getting through reduce the capacity. The airports themselves are also reducing capacity of airlines that can come into the airport, reducing number of frequencies into the airport and that has also affected us getting to the pre-pandemic level.

It’s a global issue, but the good thing about it is that new airlines are coming up as we’re losing some. We are also getting more airlines in the air as of today. Now we have a value joined Nigerian Aviation industry yesterday as a new entrant in fact Ibom Air and Green Africa.

These are the three airlines that have joined the Nigerian. If not for the political reasons you have gotten an agile equal from AMCON being the fourth carrier. We are almost set before the political abracadabra came in and stopped them from flying. Yes, so I mean we are battling with economic hardships. There’s the Jackpot syndrome.

But within the country domestic flights, most flights, air tickets or flights are packed at somewhere around 70,000 and even more. So I’m wondering within the country what exactly could we also be feeling this hike in Fares as well just to travel the country had issues. One of those joining this period two of the most prominent airlines had to go ground aero contractors and Dana Airlines.
These are airlines that are very active. Who had very good schedules and then by going down they reduced the capacity on the domestic flow because the capacity was reduced and coupled with the demand that is forced on us. Not because we are good. But because of insecurity in the country passengers are duty bound to fly as the only option as the road and rail has come very unsafe. So that has pushed pressure on the local aviation and also affected the fares outside that the capacity issue. There’s also the cost of aviation fuel. We did not refine aviation fuel in Nigeria. I don’t think we have any plan to do that in the near future causing a statement, but presently we’re all aware that the narrow is crazy”.