Low travel season and reduction in exchange rates are seeing airlines operating from Nigeria to Europe slash fares and offer promo fares to various countries.

BusinessDay?s checks show that British Airways, for instance, recently offered 300 dollars for its premium economy class ticket to London. Other airlines often advertise promo tickets on their website in a bid to drive sales.

Also in recent times, the exchange rates have been relatively stable and reduced from N1,800 to N1,900 to a dollar last year to now N1,400 to N1,500 to a dollar. The effect of the drop in exchange rate has seen fares drop to various European countries.

For instance, a return economy class ticket from Lagos to London and most European countries which cost between N2 million to N3 million last year when exchange rate was about N1,800 now cost between N1.2 million to N2 million.

?Air fares are driven by exchange rates. Recently the rate has come down a bit. It has been going between N1,400 and N1,500. Also, this is low season and so a lot of airlines are advertising promo fares. We are not surprised because this is what happens during low season,? Susan Akporaiye, former president National Association of Nigerian Travel Agencies (NANTA) told BusinessDay.

Akporaiye explained that last year, when foreign airlines? trapped funds were released, airlines took their time to release low ticket inventories because the exchange rate was still around 1,600 to 1,700.

She further explained now that the rate of exchange is between 1,400 to 1,500, it is expected that it would be reflected in ticket prices no matter how small.

?People are not really travelling now, so airlines are doing aggressive marketing with promo fares. Whatever ticket price you are seeing that looks cheap must either be a promo fare or because the rate of exchange has stabilised. The exchange rates have not been spiking to N1700 to N1,900 as it was before. This has kept the fare a bit stable. Once we enter the high season, the fares will change,? she said.

BusinessDay also compared summer prices for last year against this year, which showed a slight drop in fares during the period.

While summer fares from June 2025 are a bit high compared to April and May 2025, these fares are cheaper when compared to June 2024.

A one-way economy class return ticket from Lagos to Europe for summer last year which cost between N2million and N3 million has been reduced across most European countries.

For instance Lagos to London Gatwick summer ticket currently cost between N1.5 million to N1.8 million depending on the airline; Lagos to London Heathrow cost between N1.5 million to N2.2 million; Lagos to France cost between N1.5 million to N1.9 million; Lagos to Berlin cost between N1.7 million to N2 million; Lagos to Amsterdam cost between N1.6 million to N1.9 million; Lagos to Brussels cost between N1.6 million to N1.8 million.

Also, a one-way Business class return ticket from Lagos to Europe for summer last year which cost between N5million and N9 million has been reduced across most European countries.

Lagos to London Gatwick Business class summer ticket currently cost between N5 million to N6.2 million depending on the airline; Lagos to London Heathrow cost between N4 million to N6.8million; Lagos to France cost between N3.2 million to N8 million; Lagos to Berlin cost between N5 million to N7.4 million; Lagos to Amsterdam cost between N4.2 million to N8.5 million; Lagos to Brussels cost between N4.8 million to N6.8 million.

Alex Nwuba, President, Aircraft Owners and Pilots Association of Nigeria/former Chief Executive Officer, Associated Airlines said airlines can offer cheaper fares because the ecosystem enables it.

?European airlines aren?t charging fares to avoid going bust from the cost of doing business. Nigerian airlines face existentialist threats from the charges of their service providers, while the service providers report double-digit profits.

?Europe offers a healthy mix of premium and low-cost airports with varying charges, lower handling charges, lower cost of doing business, and a healthy policy environment, which they can pass onto passengers in the form of low fares. The reverse is clearly the case in Nigeria where airlines are held hostage by the system itself, which translates to higher cost of operations, which translates to higher fares,? Nwuba said. (BusinessDay)

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