Airlines suspend planned shutdown over fuel price crisis
Airlines suspend planned shutdown over fuel price crisis
Airline operators in Nigeria have suspended their planned nationwide shutdown of flight operations following an appeal from the Federal Government, offering temporary relief to air travelers.
The Airline Operators of Nigeria (AON) had earlier announced plans to halt services from Monday, April 20, citing unsustainable operations driven by soaring jet fuel prices.
However, the group agreed to pause the action after intervention by the Minister of Aviation and Aerospace Development, Festus Keyamo, who urged dialogue and restraint.
According to AON, the suspension is conditional, pending the outcome of a stakeholders’ meeting scheduled for April 22, convened by the aviation minister to address the crisis.
The association emphasized that rising aviation fuel costs worsened by supply constraints and foreign exchange challenges have significantly increased operational expenses.
Fuel alone accounts for over a third of airline costs in Nigeria, placing immense strain on the industry.
Globally, airlines are grappling with similar challenges, as geopolitical tensions, including the ongoing Iran conflict, continue to drive up fuel prices.
This has forced many carriers to increase fares, scale back expansion plans, and reassess financial projections.
Source: X | NTANewsNow
