The shutting down of local carriers on Saturday and the sub cancellations of all domestic flights on election days will amount to a daily loss of about N1.3 billion. This decision made by airline operators last week will lead to a considerable loss of revenue in the course of the polls.
Arik Air, which has about 40 percent market shares, operates an average of 120 flights daily, followed by Aero, which operates about 70 flights daily. Arik Air and Aero Contractors control over 65 percent of the market and each lost an estimated N242 million on Saturday March 28. They are set to encounter a similar loss during the gubernatorial elections on April 11th 2015 as all domestic flights will also be cancelled that day.
Days leading to the election, Murtala Mohammed International Airport was overflowing with travelers– some with previously booked itineraries, with others seeking to escape a possibly disorderly election.
Samuel Ogbogoro, Head Corporate communications, Dana Airlines Ltd told Ventures Africa that travel operations have been relatively stable during the build up to the presidential elections. He however declined to comment on the exact figure or amount the airlines had lost to restricted movement during the election weekend.
Dana Air Chief Commercial officer, Mr Obi Mbanuzuo explained to Vanguard reporters that airlines could lose millions of naira on ticket sales. He also stated that this sacrifice is in a bid to bolster Nigeria’s democracy.
The impact of these changes will also affect Aviation agencies such as Federal Airports Authority of Nigeria (FAAN), who generate funds from charging airlines for passenger traffic and the transportation of goods.
