AVIATION FUEL PRICE HIKE; THREE AIRLINES TO SHUT DOWN IN DAYS.
Domestic airlines are on the verge of shutting down operations following a sharp increase in the price of aviation fuel also known as JET-A1.
The Vice-Chairman of Airline Operators of Nigeria, AON, Mr. Allen Onyema currently raised an alarm at the ongoing maiden edition of Federal Airports of Nigeria, FAAN, National Aviation Conference, FNAC, with the theme, ‘’Advancing the Frontiers of Possibilities for Safe, Secure and Profitable Air Transport’’, in Abuja.
Onyema who refused to name the airlines said the aviation fuel challenge was not limited to Nigeria alone but emphasized that the case is made worse in Nigeria because of the sharp fall in the value of the naira against major currencies especially the dollar.
He said: “That is why we ran to the government and the Federal Government has given us about 10,000 metric tonnes of fuel at the cost of N580 per litre in Lagos and about N607 per litre outside Lagos”.
He further noted that some airlines outside Nigeria have closed down because of the effects of rising aviation fuel.
If these things are not addressed in Nigeria, it can affect the bottom line of all airlines in Nigeria.