Passengers are shunning air travels while companies, organisation and Associations are reverting to online meetings instead of physical meetings and traveling due to the increase in the price of aviation fuel, also known as, Jet A1.
The hike in Jet A1 has made airline tickets go up with passengers paying more than N250,000 for a return Lagos-Abuja ticket; while Lagos-Kano return is between N200,000 and N300,000 depending on the time of booking and the Airline.
It was gathered that Jet A1 had reached over N903 per litre in some states in the Northern parts of the country as at Wednesday, thereby, making air travel very expensive and above the middle class.
According to leading airline operator, Jet A1 sold for N880 per litre in Kano while it sold for N780 in Abuja and N740 in Lagos.
However, according to a document, it was gathered that flights arrival and departure had slowed down at the terminal 2 of the Muritala Muhammed Airport (MMA2), Lagos.
It was gathered that while the terminal recorded 187 flight departures in the first week of July 2022, the terminal recorded a lower figure of 172 in the first week of August.
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Also, arrivals dropped from 225 that was recorded in July to 140 in August, thereby, confirming aviation’s stakeholders fear of drop in flight due to high cost of ticket that was influenced by hike in aviation fuel, foreign exchange and other operating cost.
This increment in price of Jet-A1, according to airline operators, has eaten up their profit, thereby, making profitability very slim, as well as, passengers seeking alternative to air transportation.
For instance, a return ticket on Max Air, Jos to Lagos goes for N280,000 and return ticket Port Harcourt to Kano goes for N306,000. Lagos To Katsina goes for N148,000 while return ticket Abuja to Lagos is between N148,000 to N155,000.
Kaduna to Lagos flight on Azman Air is between N150, 000 to N170,000 while return ticket Maiduguri to Abuja for same day is N140,000 and Abuja to Birnin Kebbi goes for N150,000.
Abuja-Kano flight on Max Air is between N90,000 and N130,000; while it is between N74,000 and N80,000 on Air Peace. Also on Max Air, Abuja-Maiduguri is N90,000 and Lagos-Kaduna on Azman Air for a Wednesday flight, N130,000. A one-way Lagos-Abuja fare is now N80,000 and could be as high as N150,000 if the travel date is in 24 hours.
Air Peace return ticket from Abuja-Kano is between N140,000 and N160,000 and one-way, N78,000. A return from Abuja-Gombe is N150,000 and one-way, N75,000. For Abuja-Port Harcourt, a one-way ticket is N100,000; Abuja-Lagos, between N75,000 and N100,000.
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Air Peace flight from Lagos to Enugu for Thursday (today) showed that it costs N150,000 for a one-way ticket.
The stakeholders, in a separate chat however feared that the aviation sector may shutdown in the next few years if the increase in price, aviation fuel and high exchange rate are not arrested.
The director Research, Zenith Travel Consult, Olumide Ohunayo, said commercial airline operators have started cutting down on schedules because the nation’s airports are empty and being deserted by passengers due to price hike.
According to him, passengers have, as well, reacted to increase in price and cut down on air travelling by either embracing technology or other means of transportation.
On his part, the former military commandant, Murtala Muhammed International Airport, Lagos, Group Capt John Ojikutu (rtd), said price will continue to go up until Nigeria start refining these products locally.
According to him, in the 90’s, aviation fuel were refined locally and were transported through the pipelines while exchange rate was about N80 to a dollar.
He, however, said until Nigeria start refining locally and foreign exchange hike go down because aviation business are done in foreign currency, the industry will continue to witness increase in price and may shutdown.