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Tuesday, May 7
“If Jet A1 is truly reduced in price, then ticket prices must come down because Jet A1 is a major component of operational costs and ticket costs.” United Nigeria Airlines spokesperson Achilleus Uchegbu shared similar sentiments, stating that everyone expects airfares to drop with the reduction in aviation fuel prices.
“It might even inspire airlines to add new routes or increase the frequency of existing ones, which would offer greater flexibility for my business travel need.” “Also, I’d like to add that at least I get to save more from the money I should have budgeted for a plane ticket anytime I have a business appointment,”he said With fuel expenses constituting a significant portion of airlines’ operational budgets, any reduction in Jet A1 prices is poised to alleviate financial pressures and potentially stimulate growth within the aviation sector.
This should lead to lower operating costs for airlines, which could translate into more affordable ticket prices for passengers and business owners like me, which will, in turn, affect my business,”she said.
“As a frequent air traveller, I’m thrilled to hear about the drop in aviation fuel prices from N1,400 to N980.
This development marks a notable decrease in the cost of aviation fuel, a key component in determining ticket prices for air travel.
However, Ebele cautioned that reduced fuel costs might not immediately result in lower ticket prices due to other factors like demand, competition, and operational expenses.
Moreover, the downward trend in aviation fuel prices reflects broader efforts to enhance efficiency and competitiveness within Nigeria’s aviation industry..
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