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Airlines Lament As Aviation Fuel Price Hits N1,300 Per Litre
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The Airline Operators of Nigeria have expressed deep concern regarding the escalating cost of operations, amidst the surge in aviation fuel prices exceeding N1300.
This was disclosed in a statement on Friday by the Spokesman of Airline Operators of Nigeria, Obiora Okonkwo.
Okonkwo in the statement stressed the critical need for immediate government intervention to prevent the collapse of numerous airlines.
The airlines said that the fluctuation in forex rates and the soaring cost of aviation fuel at N1,300 per litre have disrupted operational planning and stability within the aviation sector.
Okonkwo, who also chairs United Nigeria Airlines, explained that the unforeseen increase in aviation fuel prices from N700 per litre and the rise in the exchange rate to N1400/$1 have resulted in significant losses for airlines, TheGlittersreports.
Passengers who purchased tickets well in advance under previous rates are now being airlifted at the current higher costs, further impacting the airlines’ loss in the revenue stream, he claimed.
“We are making losses on factors that are beyond our control. We are not only faced with the problem of scarcity of dollars; even the aviation ecosystem is feeling the heat. Handling companies have increased the cost of their services, airports have increased their charges and those that service the aircraft have also increased the cost of their services. The monies for these payments are coming from the passengers who are already exhausted financially,” he said.
Okonkwo also noted that numerous businesses in Nigeria are experiencing low returns, leading to a decline in the number of essential passengers traveling during both peak and off-peak seasons. As a result, the airlines struggle to maintain adequate load factors to support their operations during the current low season, as there are fewer travelers for tourism and social engagements.
“Passenger traffic has shrunk because even those on social engagement like weddings, burials and other ceremonies may not be inclined to spend money on flight tickets; they would rather send credit alerts to those hosting the events who would appreciate such gestures. So, they pay instead of appearing in person,” he added.
“Air travel is a catalyst to economic development. There should have been government engagement with airlines at different levels. Airlines do not have special forex allocation; so, they buy at the same place traders who trade in Brazilian hair, textiles, and others buy.
“Our passion to remain in this business is being eroded. We are at the point of oxygen supply. Some airlines are going into a coma. Our equipment is diminishing. The minimal revenues we earn to keep the airlines flying, we convert to pay our lessors.
“It is impossible to bring in more aircraft. Aircraft owners have become skeptical because of country risk. A Nigerian airline may meet its terms, and all the standard criteria but the aircraft owners consider country risk above other factors. Country risk supersedes everything and lessors have their own obligations. So, there is nothing personal. Some airlines deposited money with the Central Bank of Nigeria but they cannot provide us the needed dollars,” he said.
News
Finally, IGP approves hunger protests across Nigeria
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The Nigerian police has finally approved the planned nationwide protests and outlined conditions for participants.
The Inspector General of Police, Kayode Egbetokun, revealed this on Friday while addressing journalists in Abuja.
He urged all groups planning to participate in the proposed nationwide protest to submit their details to the Commissioners of Police in their respective states.
The police boss said this was to ensure the protest was peaceful.
Egbetokun said, “We acknowledge the constitutional right of Nigerian citizens to peaceful assembly and protest.
“However, in the interest of public safety and order, we urge all groups planning to protest to provide necessary details to the Commissioner of Police in the state where the protest is intended to take place.
“To facilitate a successful and incident-free protest, they should please provide the following information: state the proposed protest routes and assembly points; expected duration of the protest; and names and contact details of protest leaders and organisers.”
The police boss said the information expected from the organisers also include measures to prevent hijacking by criminal elements, as well as key identifiers for possible isolation of potential troublemakers.
By providing the information, he said, the police will be able to deploy adequate personnel and resources to ensure public safety.
He said the police needed to know the specific routes and areas for the protest to avoid conflicts with other events or activities.
Mr Egbetokun said the police will “establish clear communication channels with protest leaders to address any concerns or issues that may arise; minimise the risk of violence, property damage, or other criminal activity.
“We encourage all protesters to cooperate with the police, obey the law, and adhere to global best practices for peaceful assembly to guarantee a safe and successful exercise of their rights.
News
Reps North-West Caucus Beg Youths, Citizens In The Region Not To Join Planned Protest
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Reps Applaud FCT Minister, Wike On AICL Improved Revenue, Infrastructure
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