Nigerian carriers hike fares in response to jet fuel price fluctuations

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP March 16, 2015 22:09

Nigerian carriers hike fares in response to jet fuel price fluctuations

Nigerian carriers are reported to have increased air fares by 60% due to fluctuations in the price of aviation fuel, Jet-A1coupled with the Naira devaluation.

Former Secretary-General, Airline Operators of Nigeria, Mohammed Tukur, said “the airline operators have even tried. When the naira started falling, they did not increase airfares. But since it has persisted and is now affecting Jet-A1, they have to adjust the fares in order to survive.”

“A lot of people do not have money to fly again. People are cutting down on travels in order to save money and this is because of the economic hardships.”

“The oil marketers import aviation fuel and that is a problem. They have to buy dollar at high rate despite interventions by the Central Bank of Nigeria. So, it is a problem.”

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP March 16, 2015 22:09