Nigerian Airlines threatens closure from April 20 as jet fuel…

Domestic flights across Nigeria could be suspended from April 20 as airlines struggle to cope with a sharp rise in jet fuel prices, Nigeria’s airline operators have warned.

In a notice issued in Lagos on Wednesday, AON Chairman, Dr Abdulmunaf Yunusa Sarina, said the price of Jet A1 had jumped to N3,300 per litre, up from N900 in February. This is a 300% increase in two months.

Sarina argued that the spike did not track the global trend of crude oil, which has only shown an increase of about 30% over the same period.

He accused marketers of driving the surge and putting the entire aviation industry at risk.

Over the past four weeks, he said, airlines continued to fly at a loss “out of a sense of responsibility to the nation.” But this is no longer sustainable.

AON explained that it had suffered a revenue shortfall, pointing out that current ticket sales no longer covered just fuel costs, let alone other day-to-day operating expenses.

It said casualties had already been recorded as an airline had been grounded since March 13 due to fuel costs.

He warned that more serious consequences were looming. Raising fares to match fuel prices would reduce passenger numbers.

Analysts have expressed concern that a full shutdown could hit jobs, banks with aviation exposure and national security.

“Airlines can no longer sustain purchases at current rates,” Sarina said.

“We urge marketers to adjust jet fuel prices in line with international market realities.”

The notice was sent to the Major Energies Marketers Association of Nigeria, with copies to President Bola Tinubu, Aviation Minister Festus Keyamo and the Civil Aviation Authority of Nigeria, among others.

If no action is taken, Nigeria’s airspace could experience a mass blockade of domestic flights in less than a week.

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