Business Standard

Nigeria is first nation to halt domestic flights over soaring fuel prices

Nigeria's 23 airlines say they have been "subsidizing" flights for the past four months and can no longer absorb the costs after the price of aviation fuel more than tripled to 700 naira per liter

US eases travel recommendations on India, lowers advisory to level 3

Emele Onu and Rachel Morison | Bloomberg
Nigeria will become the first nation to ground flights on Monday as surging prices for aviation fuel make business unprofitable.

Airline operators “will discontinue operations nationwide” until further notice, their union said in a statement. It’s the latest sign of the widespread impact that Russia’s invasion of Ukraine is having, although one carrier, Ibom Airlines Ltd., opted out of the cessation, citing obligations to customers.

The war has caused massive disruption to energy markets with Russian feedstocks used to produce jet fuel and diesel becoming untouchable for many parts of the world. China has also cut its oil product export

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First Published: May 08 2022 | 5:29 PM IST

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