The Airline Operators of Nigeria (AON) has announced the shutdown of operations, with effect from Monday, over the skyrocketing cost of Aviation fuel, which has reached an all-time high of N700 per litre.
The operators sympathised with the passengers, saying Jet A1 has shot up the cost of operations to over 95 percent.
The Operators stated this in a letter its President, Alhaji Abdulmunaf Yunusa Sarina, sent to the Minister of Aviation, Senator Hadi Sirika.
Sarina’s position was endorsed by the chief executives of all the domestic airlines.
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.