Following what has become a famously acclaimed game changing move by Nigerian Carrier, Air Peace, the hitherto dominant and ruthless foreign carriers operating the lucrative Lagos – London Route may have concluded plans to unleash an unprecedented Price War which can force Air Peace Out of the route.
Immediately Air Peace announced its fares which have been found cheaper and more affordable for Nigerians, the foreign carriers, out of fears of losing their Nigerian, passengers to Air Peace have engaged in price wars for survival.
According to investigations, majority of the foreign carriers operating on the Nigeria/London route have conspired to drastically slash fares to the point of charging fares lower than Air Peace fares.
Apart from introducing new incentives and more friendly marketing strategies, the foreign airlines are neck deep in dangerous battles for market share that is capable of sending weaker airlines out of business and equally wreak havoc on profit margins or even challenge the very survival of Air Peace.
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A price list sighted by Saturday Tribune showed Air France luring passengers to book between May 15 and June for economy class seat on the Lagos/London route with N907,782 fares as against the over N2 million for the economy it charged before now.
British Airways has also slashed its fares on the Abuja/London Heathrow to N1,394,536 as against the over N3 million it was formerly charging. Now, an economy class ticket on Virgin Atlantic from Lagos to London has been brought down to N980, 654,000 as against the N2.353,200 it used to charge.
The ongoing price wars and other gang ups by the foreign carriers which has raised concerns amongst key players have been attributed to the desperation of the mega carriers to push out Air Peace out of the Lagos/London route.
The price war strategy adopted by the foreign airlines has been described as one of the unjust engagement of the use of international Aero politics to frustrate any African carrier they see as competitive like Air Peace.
Many of the foreign carriers are said to be uncomfortable with the presence of Air Peace in view of its capacity in the areas of modern day aircraft in its fleet that can compete favourably with those of the foreign carriers.
The global record of the Nigerian carrier as a carrier that had in the past engaged in flight operations between Nigeria and other countries like China, UAE, Israel Brazil and South Africa during the pandemic seamlessly may have caused sleepless nights for the foreign carriers.
Many key players while reacting to the foreign airlines price wars described the market as extremely agile and impatient. They advised Air Peace to urgently change its game plan by making “the world taste what it means to be a truly Nigerian brand. You could see the presence of intentionality in their campaigns. It shows a clear understanding of the market. They are unleashing on Air Peace products of insights derived from the algorithm in their passengers platforms. They know where these customers are, they have their details, they may even be engaging passengers directly.”
The sudden reduction in the fares the key players said will be for the benefit of the Nigerian travelers who are the brides. They, however, expressed surprise at how the foreign airlines that refused to reduce their fares ab initio suddenly slashed the fares just to get at Air Peace.
