Despite Jet A1 Price Surge, Airline Rules Out Airfare Hike

Despite the recent sharp spike in Jet A1 fuel prices, United Nigeria has assured passengers that there are currently no plans to increase airfares, even amid escalating geopolitical tensions in the Middle East.

According to the airline, hiking ticket prices now could further depress passenger traffic, which has remained below 16 million annually despite industry projections for growth.

LEADERSHIP reports that aviation fuel now sells for between N1,803.19, N1,839.19, and N1,852.19 per litre at Lagos, Abuja, and Kano airports, respectively. This marks a more than 100 per cent increase from N900 per litre recorded on February 28, shortly after the outbreak of tensions between Israel, the United States, and Iran.

Speaking to journalists, United Nigeria’s Chief Operating Officer, Mazi Osita Okonkwo, acknowledged the severe pressure the surge in fuel costs is placing on airline finances.

“Within one week, the price has doubled by 100 per cent. If you increase fares, already passengers are not flying, the economy is down. So, an increase in airfare is not an option. There must be intervention from somewhere,” Okonkwo said.

He explained that, while airlines technically could raise ticket prices, doing so now would risk further reducing passenger numbers. Okonkwo also challenged industry critics to understand the harsh realities facing carriers today.

“Aviation fuel accounts for 40 to 50 per cent of operating costs, followed closely by equipment maintenance. Intervention can come from anywhere. If they can stop the war, it’s an intervention. We are in a situation now that we don’t want to reach a point of no return,” he added.

The airline continues to explore ways to manage the cost pressures without passing the burden to passengers, urging government and global stakeholders to intervene to stabilise fuel supply and pricing.