Air Peace CEO Warns New Tax Law Could Push Domestic Flight Fares to N1 Million
The Air Peace CEO, Allen Onyema, raised concerns about the impact of new tax provisions on the aviation industry in Nigeria. He highlighted that the increased tax levies could push domestic flight fares beyond N1 million, leading to operational challenges and reduced passenger demand.
Onyema emphasized the need for urgent government intervention to prevent a collapse in the sector. The new tax regime, including a 7.5% VAT on aircraft purchases and spare parts, threatens the financial viability of airlines, making survival nearly impossible.
The CEO called for a reconsideration of the tax framework to support the industry's stability.
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