BREAKING: Airlines to shut down operations from Monday as aviation fuel hits N700
AON said the shutdown would take effect from Monday, due to the increase in the price of aviation fuel which cost N700 per litre.
This was contained in a letter by AON President, Abdulmunaf Yunusa Sarina, and sent to the Minister of Aviation, Senator Hadi Sirika.
Sarina lamented that Jet A1 has shot up the cost of operations to over 95 percent, thereby, causing hardship on passengers.
The letter read partly: “It is with a great sense of responsibility and patriotism that the Airline Operators of Nigeria (AON) 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.
“Overtime, aviation fuel price (JetA1) has risen from N190 per litre 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% of an airline’s operating cost globally, the present hike has shut up Nigeria’s operating cost to about 95%.
“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.
“To this end therefore, the Airline Operators of Nigeria (AON) hereby wishes to regrettably inform the general public that member airlines will discontinue operations nationwide with effect from Monday, May 9, 2022 until further notice.”
