Airline Operators of Nigeria (AON) has lamented the situation where aviation fuel, also known as Jet A1 now sells for N1300 per litre.
This was made known in a statement on Friday by the spokesman of local airlines, Obiora Okonkwo, who called for immediate government intervention to prevent the collapse of local airlines.
Okonkwo, who also chairs United Nigeria Airlines, reiterated the critical need for immediate government’s intervention to prevent the collapse of numerous local airlines.
The airlines said that the fluctuation in forex rates and the soaring cost of aviation fuel at N1, 300 per litre have disrupted operational planning and stability within the aviation sector.
Okonkwo further explained that the unforeseen increase in aviation fuel prices from N700 per litre and the rise in the exchange rate to N1,400/$1 have resulted in significant losses for airlines.
He added that passengers who purchased tickets well in advance under previous rates are now being airlifted at the current higher costs, further impacting the airlines’ loss in the revenue stream.
