See the Nigerian airline seeking to compete with Air Peace, others

• Ibom Air has announced the acquisition of an additional Airbus A220-300 as part of its plans to grow its business
• Ibom Air ordered 10 Airbus A220-300 aircraft, the first delivered in November last year.
• The delivery of the aircraft will bring the airline’s A220 fleet to 11 after the delivery of the outstanding nine units

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment, and the economy for over a decade.

The state-owned airline, Ibom Air, is set to acquire an additional Airbus A220-300 as part of its strategic plans to boost its capacity and meet the growing demand for its services.

In October 2022, Ibom Air ordered 10 Airbus A220-300 aircraft, the first of which was delivered in November last year.

Another Nigerian airline acquires new aircraft to compete in the industry Credit: CHARLY TRIBALLEAU / Contributor
Source: Getty Images

Ibom Air now owns 11 Airbus A220

With the rising demand for its services outgrowing its delivery schedule, the company acquired the A220 from Carlyle Aviation, a famous aircraft lessor and a key player in the global aviation industry.

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The delivery event was held at Maastricht Airport in the Netherlands. Akwa Ibom State Governor Umo Eno was in attendance and accompanied by other key personalities.

Ibom Air’s executive team was led by Mfon Udom, the Manager and Chief Executive Officer; George Uriesi, the executive director and chief operating officer; and the airline’s management team.

The delivery of the aircraft will bring the airline’s A220 fleet to 11 after the delivery of the outstanding nine units.

Fidelity and Union Banks are key financiers 

Reports say the airline’s head of marketing and communication, Aniekan Essienette, disclosed that the aircraft purchase was financed by Fidelity and Union banks, with Fidelity as the primary partner.

Akwa Ibom State Governor Eno commended the airline's growth and adherence to its business strategy.

He expressed satisfaction with the new acquisition, saying it will boost the airline's operations.

Airfares skyrocket across domestic routes

Nigerian airlines have been suffering from aircraft depletion, which analysts say is why airfares are skyrocketing nationwide.

The development comes as air passengers in Nigeria lament the takeover of Nigeria’s airports by touts, who say they are responsible for the high cost of air tickets in Nigeria. 

The development is despite passengers paying as high as N250,000 for a one-hour flight from Lagos to Abuja. 

Racketeers hijack ticketing in airports

Aviation stakeholders have blamed the problem on ticket racketeers and the reduction in the fleet of local airlines operating in the country. This has led to a hike in ticket prices and racketeering among airline staffers.

Findings show that the reduction in airlines’ fleets was because of an increase in the number of grounded aircraft owned by different local airlines due to exchange rate volatility and Dana Air’s suspension by the Nigerian Civil Aviation Authority (NCAA). 

Aviation experts say the number of air passengers has remained the same, if not more, in the last year, while airline seats have decreased due to industry issues. 

Ebonyi State, which recently launched a new airport has expressed the desire to to launch a new airline to complement its new international airport.

The state said it has secured a commitment from investors for three new aircraft.

Another airline secures Gatwick Airport slots, set to commence flights

Legit.ng previously reported that Ugandan Airlines, which recently commenced direct flights to Nigeria, is setting the stage for an important expansion in the next five years.

As part of its growth strategy, the airline has launched new international flights to London Gatwick Airport by the end of 2024.

Securing slots at London’s main airports has been a challenge for many African airlines, including Air Peace, which commenced flights on the Lagos-London route on March 30 this year.

Source: Legit.ng