Airline Operators of Nigeria (AON) has warned that domestic flights may be suspended from April 20 over the persistent rise in the price of Jet A1, also known as aviation fuel.
The body made this known in a notice signed by its president, Abdulmunaf Sarina, on Wednesday in Lagos.
Mr Sarina said the price of Jet A1 had increased to N3,300 per litre from about N900 per litre in February, representing a 300 per cent rise.
According to him, the increase, driven by marketers, has significantly raised airlines’ operational costs.
He noted that the rise was not in line with global crude oil price trends, which reflect about a 30 per cent increase.
Mr Sarina said airlines had, in the past four weeks, continued operations despite the rising costs out of a sense of responsibility to the nation.
He, however, said the situation had become unsustainable.
“Currently, airline revenues are insufficient to cover the cost of fuel alone, which is only one of many operational expenses incurred daily.
“The actions of fuel marketers are putting the aviation industry and the nation’s economy, safety and security at risk, as airlines are being forced to consider suspending operations.
“For the avoidance of doubt, this increase has already affected one airline, forcing it to suspend operations since March 13,” he said.
Mr Sarina said the situation could worsen if urgent action was not taken.
According to him, adjusting ticket prices to reflect current fuel costs could lead to reduced passenger traffic, while a shutdown of operations would affect jobs, financial institutions and national security.
“We urge marketers to adjust jet fuel prices in line with international market realities, as airlines can no longer sustain purchases at the current rates,” he said.
The notice was addressed to the Major Energies Marketers Association of Nigeria, with copies sent to President Bola Tinubu, the Minister of Aviation and Aerospace Development, Festus Keyamo, and the Nigeria Civil Aviation Authority, among others.
Discussion about this post