Business
Airlines Increase Flight Tickets Cost By 100% At PH Airport
Users and those that do business at the Port Harcourt International Airport, Omagwa, have decried the sudden increase in the cost of flight ticket.
The Tide’s investigations revealed that the four major airlines operating at the airport: Arik, Dana, Airpeace and the Aero Contractors, have increased the cost of their flight tickets by 100 percent, while others such as the Max Air, Medview and Azman Air have stopped operations at the airport.
Some of the airport users who spoke to our correspondent on the recent increase, complained that the increase was more than 100 percent in some cases, and had affected their business.
A travel agent (ticketer), Tomkiiri Abel, said the increase had caused reduction in the passenger traffic, and had affected their income negatively.
“ You can now observe the rate at which flight ticket has gone so high. Economy class that used to be between N30,000 and N35,000 at peak time now goes for between N60,000 and N65,000 from Port Harcourt to Lagos or Abuja in all the airlines”, he stated.
In his own reactions, a business operator at the airport, John Tasie, said the situation did not only discourage many passengers due to the distressed economic situation, but had also created a dull atmosphere for business generally.
He asked, “How many people would want to fly anyhow again, except you are a political office holder, or top company executive that can afford such huge amount for flight ticket?”
Nevertheless, a staff of one of the airlines who chose to be anonymous told The Tide that the airlines right now were passing through serious challenges as a result of the long period of shutdown occasioned by coronavirus pandemic.
He said many airlines were finding it difficult to pay full staff salaries, adding that if there is no bailout to support their operations, some of the airlines would close shops.
Meanwhile, a senior officer at the Corporate Affairs office of the airport told The Tide on the condition of anonymity that many of the airlines may soon merge as they could no longer cope with the operations.
She said that talks were ongoing among the airlines towards the merger, explaining that the battle for survival caused the increase in cost of flight tickets.
By: Corlins Walter
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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