As the summer holiday approaches, Air passengers are expected to experience an increase in airfares due to devaluation of Naira as well as appreciation of
“We started operations at N160 per litre barely four months ago and when you move from that price to over N270 within two months, you should expect whatever we are experiencing now in terms of high airfares.
Speaking to LEADERSHIP, a member of the aviation safety round table, Olumide Ohunayo, said since aviation fuel is a major cost in the industry, the increase in price will surely affect price. “Fuel is a major cost, and if aviation fuel keeps increasing, the cost of tickets will increase. We have not been able to find a nexus to the aviation fuel issue because we do not refine fuel in Nigeria. All fuels are imported.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Naira exchanges for 503/$ at parallel market - Punch NewspapersThe most widely read newspaper in Nigeria
Read more »
Naira stable at official, black marketsThe naira closed at N504.00 per $1 on Monday.
Read more »
Benchmark Rate: CBN urged to curb inflation, Naira depreciationThe MPC meeting is scheduled for Monday and Tuesday.
Read more »
Kidnappers using banks; e-Naira for launch; how to remain poor
Read more »
Naira stable at official, black marketsThe naira closed at N504.00 per $1 on Monday.
Read more »
Benchmark Rate: CBN urged to curb inflation, Naira depreciationThe MPC meeting is scheduled for Monday and Tuesday.
Read more »