FinchGlow Holdings boss calls on Fed Govt to reduce charges on passengers' ticket

 FinchGlow Holdings boss  calls on Fed Govt to reduce charges on passengers' ticket 

Group Managing Director of Finchglow Holdings, Mr  Bankole Bernard has called on the Federal Government to consider reduction on taxes and levies on airline tickets in order to drive down the oscillating cost of tickets for domestic air travel.

He said the multiplicity of levies and charges factored into air tickets by the relevant aeronautical agencies , cannot be absorbed by the airlines, but will be passed on to passengers.

Bernard said though ticket prices for local travel could be described as the highest in Nigeria, but attributed several reasons for the spike in fares , in particular the forces of demand and supply.

Speaking at a briefing in Lagos at the weekend, the former President of National Association of Nigerian Travel Agencies (NANTA), said the skyrocketing costs of air tickets has become concerning, but regretted that there is nothing the regulatory body could do to ameliorate the situation.

Describing the development as an interplay of market forces, he , however, noted if more airlines get on the scene, competition with more aircraft seats on the offer could reduce the price of air tickets.

He also attributed projections for " Detty December '" , which will cause a high volume of passengers getting into the country as one of the factors driving the hike in airfares.

While reviewing activities of the air travel travel ecosystem in 2025, Bernard commended the President Bola Ahmed Tinubu administration for creating series of activities that has created a positive outlook for the sector.

Such activities, the FinchGlow Holdings Group Managing Director said has created a positive outlook for the aviation sector, which has also had a good impact for air travel.

He said : " The President Bola Ahmed Tinubu administration  has resolved the challenge of foreign airlines blocked funds, achieved stability in the foreign exchange floating and other interventions."

Bernard said while passenger figures have improved in the out going year, with increasing bookings from passengers, there is , however a need to develop a central database for the Nigerian air travel sector to track growth and monitor the performance of several segment of the industry.

The FinchGlow Holdings GMD called on the relevant aviation agencies saddled with fixing sore facilities at airports nationwide to live up to their obligation and ensure the prevailing infrastructure meets global standards.

He in particular, canvassed the installation of wireless internet services to improve passenger travel and airport experience.

Bernard said it is disheartening that telecommunication companies in Nigeria have not given serious consideration to the opportunities available for revenue generation by investing in such airport infrastructure.

He interested telcos to partner the Federal Airports Authority of Nigeria (FAAN), on how to drive the potential benefits from the value chain.

Bernard said while 2025 has offered opportunities for the FinchGlow Conglomerate to deepen its industry engagement through partnerships touching many new business initiatives, the coming year will see it changing the face of cargo business in the country.

He said the Conglomerate may set its eyes on new ventures including establishing a Flying School and the setting up of a full cargo airline to drive opportunities in the courier , logistics and product packaging value chain.

Bernard said:" We look forward to changing the face of air cargo in Nigeria by ensuring that the expected global standards and structure are introduced. We need to clean up the system and ensure that only airlines and certified cargo agents are involved in the business of cargo.

" If you look at operations at the cargo village at the Lagos Airport, it is a complete eyesore. But, now that our company has been appointed to undertake the Cargo Accounts Settling  Centre (CASS), a complete paradigm shift is going to take place in that space.

" So far about nine airlines are already on the CASS platform, more members will join and the whole idea is to open up the system for FAAN to see how the opportunities in air cargo could be fully tapped and how Nigeria could be a biggest player in that space.

" There are huge untapped opportunities in air cargo. We could be an so much from this value chain. The under belly of an aircraft is not the only space to load and ferry cargo. Why can't airlines be invest for n smaller aircraft dedicated for cargo operations . That is the new thinking we hope to bring on board?"

He lauded State Governments that have started making investments in cargo airports and airlines, describing the projects as a paradigm shift in the sector.

He commended Ogun State Government for its inroads into the aviation sector urging other sub national entities to bring such investments into their jurisdictions, which will create jobs, and contribute to the development of local economies.