BREAKING: Airlines Shutdown Operations In Nigeria As Aviation Fuel Hits N700

Airline Operators of Nigeria (AON) have announced their plans to shut down flight operations in Nigeria over what they called an astronomical hike in the price of aviation fuel.

Infoexpert24 reports that the operators on Friday evening lamented how its members have “carried on deploying and subsidizing their services to our highly esteemed Nigerian flying public in the last four months despite the steady and astronomical hike in the price of JetA1 and other operating costs.

“Over time, aviation fuel price (JetA1) has risen from N190 per liter to N700 currently. No airline in the world can absorb this kind of sudden shock from such an astronomical rise over a short period. While aviation fuel worldwide is said to cost about 40 percent of an airline’s operating cost globally, the present hike has shut up Nigeria’s operating cost to about 95 percent.

“In the face of this, airlines have engaged the Federal Government, the National Assembly, NNPC, and oil marketers with the view to bringing the cost of JetA1 down which has currently made the unit cost per seat for a one hour flight in Nigeria today to an average of N120,000. The latter cannot be fully passed to passengers who are already experiencing a lot of difficulties.’’