Nigerian airlines have accumulated more than ₦60 billion in loans from local banks to finance the purchase of aviation fuel amid persistently high Jet A1 prices.
The Airline Operators of Nigeria (AON) disclosed that the rising cost of aviation fuel has placed significant financial pressure on airlines, forcing operators to rely heavily on bank financing to maintain their operations.
The development highlights the growing financial challenges facing Nigeria’s aviation industry, as fuel remains one of the biggest operating costs for airlines.
The AON has continued to call for measures to reduce the cost of aviation fuel and ease the financial burden on local airlines.
