Airline operators are considering increasing costs of flights within the country in view of hike in the price of aviation fuel and their cost of operations. When compellingly implemented, an hour, one-way flight from Abuja-Lagos could cost travelers N250,000.
Obiora Okonkwo, spokesman for Airline Operators of Nigeria (AON) cum Chairman of United Nigeria Airlines revealed this on Wednesday while speaking as a guest on ARISE NEWS Channel programme ‘The Morning Show.’
According to him, the rise in cost of operations could lead to increase in air tickets, such that air passengers would pay as much as N250,000 for air tickets from Lagos to Abuja.
“If you think tickets are expensive, then you probably don’t appreciate the sacrifices made by local operators. If we have to charge the fares, the way the costs are increasing every day, we should be paying not less than N250,000 from Lagos to Abuja,” Okonkwo said.
He stressed the need for local airlines to access foreign exchange through a designated window facilitated by the Central Bank of Nigeria (CBN).
He also called on the newly appointed Aviation Minister, Festus Keyamo, to collaborate with other governmental bodies to identify and rectify obstructive elements within the system, which according to him, is adding to the existing challenges.
While fielding questions on the foreign exchange challenge, Okonkwo said: “You have naira and you can’t convert it to dollar. So, the solution to this is for our minister to understand that we need a special window with the CBN to access foreign exchange.”
He expressed concern over the unjustifiably high cost of aviation fuel, attributing the excess charges to speculative practices. He called on the Nigerian National Petroleum Company Limited (NNPC) to rise above board to stabilise the industry.
Okonkwo without mincing words advocated for its acknowledgement as an essential industry within Nigeria. He cautioned against any interference with the existing regulatory framework, stressing that stability and consistency were paramount. He urged the government and the new aviation minister to recognise the aviation industry as one of the essential industries in the country.
Okonkwo also bemoaned the currency disparity that local operators grapple with. He said earnings in naira must cover significant dollar-denominated expenses, making the industry particularly vulnerable to currency fluctuations. Okonkwo therefore urged the minister not to tamper with existing regulations and institutional structures.
“The current minister should not interfere with the regulations. We had a very terrible past where the regulatory employees were given employment letters from the Federal Ministry of Aviation. That’s absurd and unacceptable,” Okonkwo said.
