Four months after Emirates resumed operations into Nigeria, the airline is gradually bouncing back to regaining it’s position in the Nigerian market with over 75 percent load factor.
This was contained in the Lagos Business School (LBS) breakfast presentation by Bismarck Rewane, the Managing Director/Chief Executive Officer of Financial Derivatives Company Limited.
“Emirates flights are enjoying load factors in excess of 75 percent on the Lagos – Dubai route,” the report stated.
Recalled that in October 2024, Emirates resumed operations into Nigeria, two years after the suspension of operation by the airline over several issues including unresolved trapped funds belonging to the airline.
Experts in the aviation sector have linked the airline’s growth to Detty December travel demand and connecting flight traffic to other destinations.
Yinka Afolami, President of the National Association of Nigeria Travel Agencies (NANTA), said the increase in the airline’s load factor is attributed to business and leisure travellers love for Dubai, the airline’s strong connection to USA, UK and other parts of the world.
Also recall that November last year, Emirates introduced free transit visas for Nigerian passengers transiting through Dubai on its flight.
Travel agents told BusinessDay that this also contributed to passenger growth for the airline during the time the free transit visa window lasted.
The load growth is also reflected in other foreign airline’s expansion of flight frequencies into Nigeria.
Rewane’s LBS breakfast presentation also stated that more carriers are expanding the frequency to Lagos, Delta added a daily frequency to New York in addition to Atlanta, adding that the New York extra flightsares likely to stop this February.
“Qatar Airways is offering discounts in the transatlantic routes. United Airlines is in direct competition with DeltAirlinesne in the US direct flights. Expected visa restrictions may affect passenger traffic in the US.
“Nigeria may want to review the airport concession agreements signed with the Buhari administration and this will be a major black eye for Nigeria,” the report stated.
On global aviation, the report noted that the IATA is forecasting improved airline profits for 2025, fuel cost relief and booming trade will be the catalysts, adding that IATA now expects a global net profit of $36.6bn.
“All regions in the world are expected to be profitable. There is an expectation of increased travel and dollar strengthening, the major alliances will continue to drive traffic, star alliance is likely to dominate flows from emerging to advanced economies, African airlines will achieve a margin of one percent, whereas Middle East will achieve 7.7 percent,” the report added.
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