Jet fuel now N670 per litre from N170– Airline operators cry out

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The Chief Executive Officer of Air Peace, Allen Onyema, has actually divulged that the Nigerian airlines run the risk of going under in the next 3 days if the price of aviation fuel, also known as Jet A1 is not managed.

Mr. Onyema, while appearing before your home of Representatives Committee examining the increase in cost of the fuel, stated the operators now purchase the fuel for N670 per litre from the N190 per litre they used to buy.

He kept in mind that regardless of the increment to air tickets by the airline companies, they are still running at substantial losses and owing debt.

Onyema said the NNPC limited should be asked to lower the cost of the fuel to N200 per litre so that the operators can continue to operate.

Responding to the demand, NNPC Limited CEO, Mele Kyari stated the demand will not be possible. Kyari stressed that the fuel is a deregulated product and the landing expense is N418 per litre.

“The Chairman of Air Peace stated they ought to bring it to N200 per litre.

“As of today, the landing cost of ATK is N418 per litre, we have no control over that, the only way is to support it,” Kyari stated.

Other operators who spoke at the hearing likewise echoed what Onyema stated.

The CEO of Overland, Captain Edward Boyo, said the country threats putting planes at risk if action is not required to regulate the cost of Jet A1 fuel.

In his ruling, the Deputy Speaker, Idris Wase said the Committee will reunite on Monday to hear from the fuel marketers.

He directed the NNPC limited employer to work with all appropriate authorities to crash the price of jet fuel.