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    Deadline for debt exchange program moved to February 7 with new terms

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    Africa loses $88bn annually through illicit financial flows – Akufo-Addo

    AMA to roll out digital revenue collection system in March 2023

    We will not layoff Vodafone staff – Telecel

    Petrol to sell for GHS15 in February – IES

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    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

    Banks seek shorter maturities in local debt-swap deal

    Zenith Bank ceases trustee services in unit trust schemes in Ghana

    Gold for oil policy will reduce pressure on forex – Bawumia

    Ghana best place for business – Nana Addo woos UAE investors

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    Africans urged to bolster adoption of Bitcoins

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    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

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    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

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High taxes killing aviation industry

bycitibusinessnews
March 22, 2016
in Business, Top Stories, Transport
Share on FacebookShare on TwitterShare on Whatsapp

Airfares are likely to be reduced if the operation costs of airline companies are reduced.

[contextly_sidebar id=”zKeVXA1dxWGr2NMlu84JMwKqddnl0WrD”]This is the verdict of Vice President, Africa of the International Air Transport Association, Raphael Kuuchi.

According to him, Ghana’s aviation industry which he commends as a highly competitive one is however constrained with the continuous rise in production costs.

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The cost of aviation fuel which is 57 cents per litre in Ghana is the highest compared to other West African countries.

Also, the recently introduced VAT on air tickets has reduced the number of passenger traffic.

Raphael Kuuchi who was speaking to Citi Business News said these issues must be critically looked at.

“The fuel price in Ghana is not competitive compared to its neighbours; because of this many airlines do not pick fuel from here so we’re losing out on revenues that these airlines could have paid to the fuel suppliers in the country.  Because of this, it is also a disincentive for some airline operators to come to Ghana. As a result of the high fuel prices, ticket prices are also relatively high.” He noted.

“So if the fuel prices and cots of operations come down, airlines are likely to bring down the fares. There was the introduction of VAT, that is also counterproductive and to the development of domestic tourism, that needs to be looked at critically,” Raphael Kuuchi further obsereved.

–

By: Pius Amihere Eduku/citibusinessnews.com/Ghana

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