FUEL CRISIS: Ex-FAAN MD warns of fare hikes, flight delays, cancellations.
By Dickson Omobola Former Managing Director of the Federal Airports Authority of Nigeria, FAAN, Dr Richard Aisuebogun, has warned that disruptions in aviation fuel supply due to geopolitical conflicts, supply chain breakdowns and shifting trade dynamics, among others, could trigger flight delays and cancellations, higher airfares and reduced connectivity in the country.
Aisuebogun, who said the aviation industry was vulnerable to global energy-market volatility, called for a strategic fuel infrastructure to protect the sector against external shocks.
He said aviation was particularly exposed to energy-market volatility because jet fuel accounted for a significant proportion of airline operating expenses.
He spoke at the 2nd edition of Transport Summit, themed: ‘Navigating Global Disruption and the Road Ahead: Mobility, Energy and Trade Facilitation for Resilient Future,’ organised by JustAlive Communications Limited in Lagos. He said: “Conflicts in major energy-producing regions and along important international trade routes can increase the cost of fuel, insurance, shipping, and imported transport inputs. For a country whose transport operators depend on petroleum products and imported technical equipment, these changes can quickly affect service delivery. “Aviation is particularly exposed because jet fuel is a major operating expense.
MSEApp News is publishing an original rewrite of this tip for readers, based on reporting associated with Vanguard.