Domestic airlines are adopting new strategies to cope with the challenges posed by high operating costs in the aviation industry.

One approach is to increase the number of flight seats available to accommodate more passengers and generate additional revenue.

Susan Akporiaye, President of the National Association of Nigeria Travel Agencies, shared insights during an exclusive interview regarding the impact of foreign exchange scarcity on the industry.

She explained that airline owners have turned to this tactic as a means of bolstering their airlines’ capacity in the face of declining revenues.

The decision to release more lower-priced seats aims to elevate the average seats per departure and ultimately reduce per-seat costs.

Akporiaye stated, “Nothing has changed in the operating costs yet due to the fluctuating exchange rate, which is affecting our operating costs.

The only thing that has changed is that airlines are beginning to release the lower seats now. Some of them have started releasing lower seats.”

Previously, airlines had refrained from selling cheaper ticket classes and focused on selling higher-priced options due to issues related to trapped funds.

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However, with the current high exchange rate, many airlines are now reintroducing lower-priced seats to increase their revenue and sustain their operations.

The aviation industry has recently experienced concerns from experts regarding the potential adverse effects of increased airfares resulting from factors such as foreign exchange shortages.

While the Minister of Aviation and Aerospace Development, Festus Keyamo, has pledged to address sector issues, experts have pointed out that poor policy regulation implementation remains a significant obstacle to the industry’s growth.

In light of these developments, Group Capt. John Ojikutu, the Chief Executive Officer of Centurion Security, has called for a thorough evaluation of the commercial aviation sector by relevant authorities to assess the financial stability of all airlines.