By Ayomide Otitoju
Ibom Air has warned it may cut flight capacity as the cost of Aviation Turbine Kerosene (Jet A1) continues to surge across Nigeria.
In a statement issued on Saturday, the airline’s Group Manager, Marketing and Communication, Aniekan Essienette, disclosed that the cost of fueling its aircraft has risen sharply within weeks.
According to the airline, the average cost per flight has climbed from about ₦2.1 million in January to approximately ₦7.6 million as of April 26, representing an increase of over 350 per cent.
Ibom Air attributed the spike to rising aviation fuel prices, noting that most domestic suppliers source their products from the Dangote Refinery. The airline expressed concern that fuel costs in Nigeria have significantly outpaced global trends.
The carrier said airlines have been unable to fully transfer the increased costs to passengers due to competitive pressures, forcing operators to absorb mounting losses in the hope that the situation would ease.
However, it warned that the current conditions are no longer sustainable, adding that airlines globally typically respond to such cost pressures by reducing flight operations.
Ibom Air indicated that it may adopt similar measures, including cutting capacity, to remain operational if the trend persists.
The airline also cautioned that continued escalation in fuel prices could threaten the viability of domestic aviation, urging fuel marketers to review pricing to sustain the industry.
The warning comes amid reports that domestic carriers, under the umbrella of the Airline Operators of Nigeria, are considering a possible seven-day shutdown over the fuel crisis following unsuccessful talks with the Federal Government and suppliers.
Efforts by the Minister of Aviation, Festus Keyamo, to ease the situation through proposed tax reductions and debt relief were said to have fallen short of addressing the core issue of escalating fuel costs.
