The Airline Operators of Nigeria (AON) has said the JetAl crisis which began in late February and deteriorated further through the months of March to May, has further worsened and is threatening the ability of airlines to continue operations.
In a statement signed by the spokesman, Professor Ibora Okonkwo, the Association said the price of JetAl rose suddenly from N200 in December 2021 to over N400 per litre in February.
He said the price had skyrocketed to over N800 per litre, adding that on top of the continuous rise in the price of Aviation fuel, supply was at best epileptic and unpredictable at several airports across the country, thereby causing flight delays, and even cancellations, as airlines queued for fuel at airports across the country.
Professor Ibora Okonkwo further stated that the high cost and scarcity of foreign exchange had worsened the already difficult situation.
He noted that airlines carried out most of their activities in US dollars “which today sells for N630 to $1; and is sadly also, in short supply.”
Read full statement here:
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