The airline says surging aviation fuel prices are forcing operators to absorb heavy losses, raising concerns over sustainability and service disruptions
Ibom Air has raised fresh concerns about Nigeria’s deepening aviation fuel crisis, warning that it may be forced to reduce flight operations as the cost of aircraft fuel continues to surge.
In a statement on Monday, the airline said the price of aviation fuel has risen sharply in recent weeks, significantly increasing its operating costs.
According to the airline, the cost of fueling a single flight has jumped from an average of N2.1 million in January to about N7.6 million as of 26 April.
“This is a more than 350 per cent increase since the beginning of March, a space of just seven weeks,” the airline said, noting that its fleet is among the most fuel-efficient in the domestic market.
Ibom Air said the development has left operators struggling to understand why aviation fuel prices in Nigeria have risen far above global levels, despite most of the supply being sourced locally.
At this point, domestic airlines are baffled at why the price of aviation fuel in Nigeria has ballooned to this level, way above the rest of the world,” it said.
The airline added that despite the sharp increase in operating costs, many carriers have been unable to raise ticket prices proportionately due to competitive pressures and concerns about passenger affordability.
As a result, operators have had to absorb significant losses in the hope that the situation would improve.
“We chose to do this believing that the crisis would pass in a week or two, but it has persisted now for nearly two months, continuously increasing, with no reprieve in sight,” the airline said.
Ibom Air warned that if the situation persists, airlines may have no choice but to cut capacity or scale back operations.
“We will have to take whatever ameliorating actions we can in the days ahead, including reducing our capacity if necessary,” it said.
Ibom Air warned that if the situation persists, airlines may have no choice but to cut capacity or scale back operations.
“If this situation persists much longer, airlines will not be able to continue operating just to pay for fuel and nothing else,” it added.
The airline called on fuel marketers to review pricing in order to sustain the viability of airline operations in the country.
The warning comes amid a broader crisis in Nigeria’s aviation sector, where the price and availability of Jet A1 fuel have become a major challenge for operators. Airlines have reported sharp increases in operating costs, leading to delays, flight rescheduling and reduced frequencies on some routes.
