Jun 28, 2022

Mawazo Writing Africa

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Airline Operators Hint at Total Shut Down over Jet Fuel Crisis – Legit.ng

  • There is currently a growing crisis in the aviation sector with inflation in aviation fuel and airline tickets
  • No fewer than three airlines have confirmed this as a result of the no ending crisis in the aviation sector
  • The Airline Operators of Nigeria (AON) said the federal government had sent interventions but the problem still persists

FCT, Abuja – The Airline Operators of Nigeria (AON) has indicated that the airline’s operations in the country controls is heading towards an imminent lockdown following the recurring crisis affecting the jet fuel known as Jet A1.

According to a report by the DailyTrust newspaper, AON leadership has indicated that three airlines will be temporarily suspended due to the crisis are about to close.

Three airlines are about to close d – AON

Speaking at an ongoing National Aeronautics Conference (FNAC) hosted by the Federal Airports Authority of Nigeria (FAAN) in Abuja, Onyema announced that the naira carried to dollar ratings also contributed to the crisis.

He said the federal government intervened in the crisis by approving 10,000 tons of aviation fuel but claimed there was no access to it.

How jet fuel went from N200/Ltr to N700/Ltr in 16 months

Onyema further announced that the crisis had reached a critical stage compared to 16 months ago when jet fuel was only N200 per litre, compared to the current N700 per litre.

He said:

“Therefore are we ran to the government a And the federal government gave us about 10,000 tons of fuel at a price of N580 per liter in Lagos and about N607 per liter outside Lagos r.

“That’s not the only problem. Since the COVID-19 crisis, most airlines around the world including Nigeria have not recovered from COVID-19 except for those whose countries have allocated so many funds to help them. It’s nobody’s fault. It just happened. The government tried their best by giving us this jet fuel. This jet fuel can put airlines out of action, not just in Nigeria but all over the world.

“Some airlines outside Nigeria have closed due to the impact of rising jet fuel prices. If these things are not addressed in Nigeria, it may affect the bottom line of all airlines in Nigeria.

“We have found that there is little or nothing the committee in place can do because of the case as Earnings of forex and oil prices around the world now. The fuel marketers sell according to what they pay. The cost of aviation fuel has gone up, even in London and all other countries. Our own is worse due to the rise in FX.”

Airlines to cease operations on Monday 9th May

Remember that Legit .ng has previously reported that the Airline Operators of Nigeria announced a total shutdown in May.

The Airline Operators had threatened to suspend operations in March, arguing that that they only had three days of fuel left.

The cost of aviation fuel, also known as Jet A1, is from 190N/litre and later 360N/litre in January this year year to 607 N/litre in March. The product is now reportedly selling for N700/litre.

Minority representatives scold Buhari over planned airline strike

President Muhammadu Buhari and the All Progressives-led governments have been accused of abandoning Nigerians.

The allegation against the government and its representatives was made by the minority faction in the House of Representatives.

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The caucus, led by the Legislature representing Aniocha North/Aniocha South/Oshimili North/Oshimili South constituencies in Delta state, urged the President to take action to address the upcoming Action by airlines in Nigeria to avert strike.

Source: Legit.ng