Air ticket sales plummeted by 40% in the fourth quarter due to high fares and trapped funds.
The National Association of Nigeria Travel Agencies (NANTA) reported a 40% decrease in ticket sales during the last quarter of 2023 compared to the same period in 2022. The decline was attributed to factors such as the issue of trapped funds, foreign exchange scarcity, and restrictions on ticket inventories by airlines operating in Nigeria.
NANTA president, Susan Akporiaye, highlighted the challenges faced by travel agencies, including difficulties in accessing foreign exchange and limited ticket availability. Despite the decrease in sales, passenger traffic only experienced a slight reduction. NANTA’s pre-48th Annual General Meeting (AGM) in Lagos aims to address industry challenges and explore opportunities for growth in travel and tourism. The event will feature keynote speakers, including the Namibian High Commissioner to Nigeria, Humphery Geiseb, and discussions on topics such as technology-driven tourism and collaborative strategies for aviation stakeholders. Additionally, NANTA plans to unveil an Intra Africa Tourism Trade Exhibition as a sustainable initiative to promote tourism and trade within Africa.
