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Africa’s empty skies aided by low propensity to fly
This basic concept of own-price elasticity of air travel in different market segments suggests that if air fares are reduced on Nigeria’s domestic routes, demand for air travel is likely to increase, since these routes are short-haul, and the prohibitive costs of air travel exclude several potential consumers of the service, writes WOLE SHADARE . The disclosure by the International Air Transport Association (IATA) last week, lamenting the high cost of flying’s disruptive impact on the…
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