Ibom Air has expressed serious concern over the escalating cost of aviation fuel in Nigeria, describing the situation as unsustainable for airline operations if it continues.
The airline made this known in a statement issued on Monday in Uyo by its Group Manager for Marketing and Communication, Aniekan Essienette. She highlighted the growing financial strain on airlines, noting that fuel prices in Nigeria have surged far beyond levels seen in other parts of the world.
According to her, the airline is calling on fuel marketers to reconsider current pricing structures in order to ensure the continued viability of airline operations within the country.
Essienette revealed that the cost of fueling aircraft has risen sharply in a short period, placing immense pressure on operating costs.
“From an average of N2.1m per flight in January, as at today, the 27th of April, we are paying approximately N7.6m to fuel every flight. This is a more than 350% increase since the beginning of March, a space of just 7 weeks!”
She noted that the situation is particularly puzzling given that a large proportion of aviation fuel used in Nigeria is sourced locally from the Dangote Refinery, yet prices remain significantly higher than global averages.
Despite the mounting costs, Essienette said the airline has so far resisted increasing ticket fares, citing a sense of responsibility to passengers and competitive pressures within the industry. As a result, Ibom Air and other domestic carriers have been absorbing substantial operational losses in the hope that the situation would improve.
The airline, however, warned that the prolonged nature of the crisis is making it increasingly difficult to sustain operations under current conditions.
“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 as at today. While we continue to do everything we can to maintain normal operations, it is clear to us that the current conditions are unsustainable.
“We, too, will have to take whatever ameliorating actions we can in the days ahead, including reducing our capacity if necessary, to be able to continue to provide services to our customers and our country. We also note that, if this situation persists much longer, airlines will not be able to continue operating just to pay for fuel and nothing else.”
