Nigerian aircraft operators have issued a warning that they would cease operations on Monday, May 9th, due to the exorbitant cost of aviation fuel, which has reached N700 per litre.
All airline companies released a statement yesterday advising passengers planning to fly to make alternate arrangements to avoid being stuck at the country’s airports.
“Despite the steady and astronomical hike in the price of JetA1 and other operating costs, the Airline Operators of Nigeria (AON) have continued to deploy and subsidize their services to our highly esteemed Nigerian flying public in the last four months with a great sense of responsibility and patriotism,” the statement read.
“The price of aviation fuel (JetA1) has climbed from N190 per litre to N700 per litre over time.
No airline in the world can withstand such a massive price increase in such a short period of time.
While aviation fuel is considered to account for roughly 40% of an airline’s operating costs worldwide, the current surge has brought Nigeria’s operating costs to over 95%.
“In response to this, airlines have engaged the Federal Government, the National Assembly, the Nigerian National Petroleum Corporation (NNPC), and oil marketers in an effort to reduce the cost of JetA1, which has driven the unit cost per seat for a one-hour flight in Nigeria to an average of N120,000 today.”
The latter cannot be properly passed on to travelers who are already having a rough time.”
“While AON appreciates the current government’s efforts under President Muhammadu Buhari’s leadership to ensure the growth of air transport in Nigeria, the cost of aviation fuel has continued to rise unabated, putting huge pressure on the sustainability of operations and financial viability of the airlines.”
This is unsustainable, and the airlines can no longer withstand the strain.”
“To that end, the Airline Operators of Nigeria (AON) reluctantly informs the general public that member airlines will cease operations countrywide on Monday, May 9, 2022, until further notice.”
“AON utilizes this method to respectfully express our sorrow for any inconveniences this extremely difficult choice may create and to please review their trip plan and make alternate arrangements,” Alhaji Abdulmunaf Yunusa Sarina, President of AON, recommended.