Passengers May Soon Pay N500,000 for One-way Flight Ticket as Jet Fuel Price Reaches Record-high
- Aviation fuel (Jet A1) prices in Nigeria have surged by over 300%, pushing airline operating costs to unsustainable levels
- The crisis has led to flight disruptions, reduced schedules, and warnings from airline operators that the industry is nearing collapse
- Ibom Air revealed that fueling a single flight now costs three times more than in January, forcing airlines to consider capacity cuts
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Airline operators say the more than 300% spike in the price of aviation fuel, popularly known as Jet A1, should ordinarily push one-way ticket fares to between N400,000 and N500,000.
However, they admit there is a limit to how much of the rising cost can be passed on to passengers, especially given Nigeria’s current economic realities, Daily Trust reported.
Source: UGC
The persistent volatility and shortage of Jet A1 have intensified operational challenges across the aviation sector, leading to frequent flight disruptions and forcing carriers to scale down their schedules.
Operators Warn of Unsustainable Costs
Under the umbrella of the Airline Operators of Nigeria (AON), carriers had earlier threatened to suspend operations over the crisis, noting that fuel prices have surged from about N900 per litre to nearly N3,000.
Although the fuel supply issue is global, Nigerian airlines say the steep increase is pushing the industry to the brink.
Fuel already accounts for over 40% of airlines’ operating expenses, but with the latest hike, it has become the single largest cost component.
Despite this, ticket prices on routes such as Lagos–Abuja remain between N130,000 and N162,000, far below what operators consider sustainable.
An airline executive, who spoke anonymously, explained that a realistic fare should exceed N500,000 per trip if airlines were to fully reflect current fuel costs.
He said:
“On a normal day, if we want to transfer the cost to passengers, which is impracticable, a one-way ticket shouldn’t cost less than N500,000.”
Even business class tickets, which currently sell for about N200,000 to N250,000, fall short of covering expenses.
Ibom Air highlights sharp cost increase
One of the domestic carriers, Ibom Air, disclosed that the cost of fueling a single flight has jumped dramatically from N2.1 million in January to about N7.6 million as of April 26—an increase of more than 350% in just seven weeks.
Based on current pricing, a Lagos–Abuja ticket on the airline was advertised at N124,100 for April 28. Even with an estimated 80% passenger load, such a flight would barely break even after factoring in other operational charges.
In a statement, the airline’s Group Manager for Marketing and Communication, Aniekan Essienette, stressed that the surge in fuel costs has occurred despite operating one of the most fuel-efficient fleets in Nigeria.
Source: UGC
The airline warned it may be forced to cut capacity to stay afloat and cautioned that prolonged price pressures could make continued operations unsustainable.
Ibom Air also urged fuel marketers to review pricing, warning that unless costs are moderated, airlines may soon be unable to operate beyond simply covering fuel expenses.
Air Peace cuts Abuja-London flights
Meanwhile, Legit.ng earlier reported that Nigeria’s top airline, Air Peace, has reduced its Abuja–London flights from daily operations to three times a week.
The airline said the decision is due to the sharp rise in aviation fuel prices and ongoing supply difficulties affecting its operations.
In a statement posted on its official X (formerly Twitter) account on Saturday, Air Peace explained that the new schedule will remain in place until July 1, when it hopes to return to normal daily flights.
Source: Legit.ng
