Government promises debt relief as crude tops $126, airlines squeezed
Nigerian airlines almost had to ground their planes this week as jet fuel prices shot up, thanks to Middle East tensions pushing global crude above $126 a barrel.
After talks, the government promised debt relief, so carriers like Air Peace and Max Air are still in the skies, for now.
Fuel costs have tripled for airlines (up to 3,300 naira per liter, though some say it's closer to 2,000 naira), making every flight a challenge.
Air travel lifeline despite exports
With road travel risky due to security issues, air travel is basically a lifeline in Nigeria.
Even though the new Dangote refinery is producing more jet fuel than ever, one-half of it gets exported out of Africa—so local airlines still struggle with high prices.
The government and airlines are working together on solutions to keep flights running and people connected across the country.