Nigerian airlines battle to stay afloat

12 May, 2022 - 00:05 0 Views
Nigerian airlines battle to stay afloat

The Herald

ABUJA. – Nigeria’s airlines say they are struggling to keep flying because the price of aviation fuel in the West African country has increased by 260 percent.

The country’s six airlines said they will continue domestic and regional flights thanks to a pledge by federal government officials to engage institutions that will “provide succor” to the airlines to help offset their skyrocketing fuel prices which now constitute 95 percent of their operating costs, the airlines said in a statement Sunday.

The Airline Operators of Nigeria had planned to protest the fuel increases by suspending local and regional flights but some of the airlines objected to the planned shutdown.

International crude oil prices have increased 40 percent since the beginning of the year, due to a combination of factors including Russia’s war in Ukraine.

Nigeria’s jet fuel prices have risen so high because it “imports 100 percent of its aviation fuel” which is then transported by the road leading to high distribution costs, said Sindy Foster, a Lagos-based aviation expert.

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