The flying public should brace-up for increase in air fare given the floating of Naira that has necessitated rising airlines operational costs, Nigerians got alerted. Capt. John Ojikutu (rtd), general secretary of the Aviation Round Table Initiative (ARTI), made this disclosure in a recent media chat.
The Central Bank of Nigeria (CBN), floated the Naira, making market forces to determine the exchange rate of the Naira to foreign currencies.
With the rising Dollar rate, there would be increase in the operational cost of airline, especially, while acquiring spare parts and maintenance of the aircraft abroad.
However, Ojikutu, who is also the chief executive officer, Centurion Aviation Security and Safety Consult, said that for airlines to meet the operational costs arising from fuel, Dollar rate, low passengers among others, airfare must increase.
Said he: “It is difficult to get stable airfare now that there are too many variables costs on imported jet-A1 and the exchange rate on dollar. Also, don’t forget that spares for the aircraft maintenance are not local but imported”.
