Airfares are rising as foreign airlines increase their exchange rate

nternational airfares on Nigerian routes have risen by more than 20% after foreign airlines increased the exchange rate for ticket sales from N462 to N551 per dollar. International passengers flying on Nigerian routes have been paying higher fares after airlines restricted their inventory of lower-cost tickets in order to mitigate the effects of the rising amount of trapped funds. The International Air Transport Association, the Switzerland-based trade association of the world's airlines, has increased the naira-dollar exchange rate for ticket sales, which is expected to worsen the plight of Nigerian travelers who are already paying higher airfares. On Friday, several travel companies confirmed to our correspondent that global distribution system companies had informed them of the latest increase.