The Nigeria Civil Aviation Authority (NCAA) has authorised domestic airlines to increase the fares payable on air tickets to ensure safe and efficient services to air travellers.
The aviation body urged the airlines to make sure that airfares are in tandem with cost of operation, factoring in the high prices of aviation fuel, charges and other expenses incurred by providing service to passengers.
A top official of the NCAA, who spoke on condition of anonymity, explained that the NCAA authorised the hike in airfares to prevent airlines from compromising safety of travellers.
The source added that the regulatory body has warned that airlines that charge fares that do not reflect the current reality would be sanctioned because such airlines would be unable to effectively carry out routine maintenance of their aircraft and would therefore be tempted to cut corners and endanger the lives of air passengers.
The aviation industry regulator noted that financial regulation of airlines is part of the overall safety regulation aimed at averting accidents and major incidents.
Source: S&P
