Nigerian airlines have temporarily suspended a planned nationwide shutdown of flight operations over crippling fuel prices after a government appeal to halt the action pending talks, the airlines said over the weekend. The Airline Operators of Nigeria (AON) - an industry body composed of a dozen mainly domestic carriers - had warned they would halt services from Monday, April 20, surging jet fuel costs had made operations unsustainable. AON said it agreed to pause the action following an appeal from Nigeria's Minister of Aviation and Aerospace Development, Festus Keyamo, who called for restraint and dialogue.
"Rising from an emergency meeting held this evening, the Airline Operators of Nigeria has reached a concessionary but conditional decision to temporarily suspend its earlier planned shutdown action," AON said in a statement.
The suspension was conditional pending the outcome of a meeting for all concerned parties scheduled for April 22, convened by the minister, AON said.
As part of their conditions, the airlines urged government agencies and service providers to keep services running and to stop demanding upfront payments, which they said were adding to their financial strain. Soaring jet fuel prices have upended the global aviation industry as a consequence of the Iran war, forcing airlines to raise fares, curb growth plans and rethink forecasts.
Nigerian airlines say the jet fuel price surge has been exacerbated by supply constraints and foreign exchange pressures, significantly increasing operating costs. Fuel typically accounts for more than a third of airlines' expenses in Nigeria.
Source Name : Economic Times