The price of aviation fuel has risen from N800 per litre some weeks ago to N900 per litre in some States, forcing airlines to raise fares to as high as N100, 000 and more for one-way economy-class tickets.
The aviation fuel crisis, which began in late February this year, and deteriorated further through the months of March to May, has further worsened and is currently threatening the ability of airlines to continue operations with the price of Jet-A1, rising from N200 in December 2021 to over N400 per litre in February, and to N800 in July. Currently, the price has skyrocketed to over N900 per litre.
The resultant effect is that currently, the cost of a return ticket from Lagos to Abuja ranges from N160, 000 to N250, 000 depending on the airline and the time of booking.
A one-way Abuja-Kano flight on Max Air and Air Peace costs between N80,000 to N100,000, while a Lagos to Kaduna one-way economy-class ticket costs between N100,000 to N150,000, depending on the time of booking.
Checks have shown that currently, despite reducing the number of aircrafts, airlines are facing low patronage across various routes as a result of the increase in air fares.
