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The Airline Operators of Nigeria said some airlines have borrowed more than N60bn from local banks just to cover aviation fuel costsAn AON board member said Nigeria’s jet fuel prices stand at 270% of the global benchmark, far above the 60-80% recorded elsewhereAirlines have stopped remitting the 5% ticket sales charge to the NCAA because all ticket revenue is being used to purchase fuel
Legit.ng journalist Victor Enengedi has over a decade’s experience covering energy, MSMEs, technology, banking and the economy.
Nigerian airlines have collectively taken on over N60bn in debt from local banks to fund the purchase of aviation fuel, as persistently high jet fuel prices push carriers deeper into financial trouble, the Airline Operators of Nigeria (AON) has disclosed.
Aviation Fuel Cost Bites Hard as Nigerian Airlines Borrow N60bn to Sustain Flight OperationsSource: UGC
Roland Iyayi, a member of the AON Board of Trustees, made the disclosure to Sunday PUNCH, warning that
