JET-A1 CRISIS: Airlines borrowing, cutting operations to stay afloat – Onyema (opens original article in a new tab)

Nigerian airlines are struggling with sharply increased Jet-A1 fuel prices, leading to borrowing and operational cuts, as Air Peace CEO calls for tax reviews.

• Aviation fuel prices in Nigeria have risen over 250% since the Iran war, increasing airline operating costs significantly.
• Airlines are borrowing billions from banks to purchase fuel and cutting flight operations to stay afloat.
• Air Peace CEO Dr. Allen Onyema urges President Bola Tinubu to review aviation taxes and charges, including the 5% Ticket Sales Charge.