Allen Onyema, Vice Chairman of the Airline Operators of Nigeria and Chairman of Air Peace, disclosed that no domestic airline makes $1 million in annual profit. He attributed this to high operating costs and multiple taxes, fees, and charges. He also mentioned that airlines used to borrow at 33% interest, which later decreased to 29%. Onyema spoke at the 30th Annual Conference of the League of Airport and Aviation Correspondents in Lagos, urging government to allow agencies to retain revenues for industry development.
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