Nigerian Carrier, Air Peace has notified its customers of a review of its ticket prices upward due to the skyrocketing price of Jet A1 in the country.
Air travellers in Nigeria will have to pay more for an hour flight as following the upward review by the airline, which may also prompt other airlines to follow suit.
The airline in a short notice to its customers said: “This is to notify you that the domestic fares have been reviewed upward due to the current increase in the price of JET-A1 (Aviation fuel)
Kindly find below the new fares for your information: BUSINESS CLASS 130,000 (J), 120,000 (C), 110,000 (D), ECONOMY CLASS: 100,000 (W) 85,000 (Y) 82,000 (S) , 78,000 (B), 75,000 (H), 65,000 (L), 60,000 (M).
Airlines in the country have been struggling to keep up with daily operations due to high cost of Jet A1 which goes for as much as 830/litre and constitute 40% of the operating cost of their operations.
Recently, the Airline Operators of Nigeria (AON), in a statement bemoan the deteriorating situation in the industry, and asked that the Federal Government intervene in order to ameliorate the plight of the carriers.
“The Airline Operators of Nigeria (AON) would like to notify the general public that the JetAl crisis which began in late February and deteriorated further through the months of March to May, has further worsened and is currently threatening the ability of airlines to continue operations.
“The price of Jet A1 rose suddenly from N200 in December 2021 to over N400 per litre in February. Today the price has skyrocketed to over N800 per litre. On top of the continuous rise in the price of Aviation fuel, supply is at best epileptic and unpredictable at several airports across the country thereby causing flight delays, and even cancellations, as airlines queue for fuel at airports across the country.
“Added to the already difficult situation, is the high cost and scarcity of foreign exchange. It is pertinent to note that airlines carry out most of their activities in US dollars which today sells for N630 to 1; and is sadly also, in short supply. To say the least, airlines are in a ‘life and death’ struggle to secure the foreign exchange that they urgently need to acquire spare parts to ensure the regular routine and scheduled maintenance of aircraft. This is a major influence on how quickly a grounded aircraft can be fixed and restored for flight operations, which impacts greatly on the reliability of schedules, growth of the industry and economic growth and sustainability”