By Dickson Omobola
United Nigeria Airlines, UNA, Thursday, disclosed that domestic airlines are yet to experience a major decline in the prices of aviation fuel, also known as Jet-A1, despite expectations that costs would ease following the reopening of Strait of Hormuz.
Chief Commercial Officer of United Nigeria Airlines, Mr Adedayo Olawuyi, however, said operators had refused to pass the full burden of the rise in fuel costs to passengers because they had deployed revenue management strategies to sustain operations.
Recall that Chairman of Air Peace, Allen Onyema, Tuesday, also lamented the situation, saying operators were borrowing from banks to purchase fuel and cutting down on flight operations to stay afloat.
While addressing the League of Airport and Aviation Correspondents during a visit in Lagos, Olawuyi said: “We have not seen a major decline in the cost of aviation fuel. You can verify that. It is still the same. If you know, as of December, we are buying about N900. Now, it is still about N1,700 or N1,650. So, there is still a huge difference. Have prices in tickets doubled? What everybody is trying to do is to use revenue management principles to see how you can get the best out of it.
