Aviation fuel hits N714 per litre, AON raises alarm of airlines closing down

Airline Operators of Nigeria (AON) has raised an alarm of airways within the nation closing down because of the steady rise within the worth of Jet A1, in any other case often known as aviation gas.

AON’s Vice Chairman, Mr. Allen Onyema who spoke on the maiden version of the Federal Airports Authority of Nigeria (FAAN) Nationwide Aviation Convention (FNAC) with the theme: ‘Advancing the frontiers of potentialities for protected, safe and worthwhile air transport’, warned that if the problem of aviation gas was not nipped within the bud, extra airways may shutdown as a result of a lot of them are going by means of very tough instances as a consequence of aviation gas costs and different challenges.

The AON famous that although the Federal Authorities had accepted 10,000 metric tonnes of the commodity to the airways to curb the problem, carriers had been but to entry it.

Onyema defined that the airways hoped to begin lifting the product from right this moment June 16. He stated; 

”That’s the reason we ran to the federal government and the Federal Authorities has given us about 10,000 metric tonnes of gas at the price of N580 per litre in Lagos and about N607 per litre exterior Lagos.

”Some airways exterior Nigeria have closed down due to the consequences of rising aviation gas. If this stuff will not be addressed in Nigeria, it might probably have an effect on the underside line of airways in Nigeria.

”We have now come to understand that there’s little or nothing the committee arrange can do as a result of that is on account of overseas trade and the value of oil everywhere in the world. The gas entrepreneurs will promote based on what they’re paying. The price of aviation gas has elevated, even in London and different nation. Our personal is worse due to the rise in overseas trade.”

The Nation reported that the product bought for N714 per litre throughout some airports on June 15. About 16 months in the past, aviation gas bought for about N200 per litre.