Airfares increase by 52% over forex, jet-A1 crisis

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The National Bureau of Statistics data  has revealed that the average airfare paid by passengers on specified routes for a single journey has increased by 52 per cent in the last one year.

The NBS, in a new report, titled, ‘Transport Fare Watch (April 2022),’ said airfares recorded a 19 per cent increase when gauged on a month-on-month basis.

On state profile analysis, Taraba recorded the highest air transport charges (for specified routes single journey) in April 2022 with N65,000.00, followed by Kogi with N64,258.91, while Kano recorded the least with N50,000.00.

Analysis by zone also showed that the North-Central recorded the highest airfare in April, 2022 with N57,552.54, followed by the North-East with N56,800.16, while the South-East had the least with N53,402.58.

The significant increase in airfares, according to findings, is not unconnected to the recent challenges faced by local airlines, ranging from energy price hikes to lack of access to foreign exchange.

Recall that domestic airline operators threatened had recently threatened to ground their operations due to a substantial increase in the price of Jet A1, also called aviation fuel.

 

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