Flight Tickets To Drop As Dangote Slashes Jet A1 Price
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Flight tickets are set to drop, following the reduction in the price of Jet A1, the fuel used by airlines.
On Tuesday, the Dangote Petroleum Refinery announced a further price cut for diesel and aviation fuel.
The new rates are set at N940 and N980 per litre respectively.
This reduction has sparked hopes among airline representatives, travel agency leaders, and frequent travellers for a potential decrease in airfares.
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The President of the Association of Foreign Airlines and Representative in Nigeria, Kingsley Nwokoma, highlighted the importance of aviation fuel in determining ticket prices.
“Normally, airfares would drop because aviation fuel is a big component. When you put all the financial components together that make up your ticket, it’s a very significant factor,” he said.
Nwokoma noted that the reduction might be linked to the presence of Dangote refinery and stressed the need for a holistic approach to understanding its impact on ticket prices.
“If truly there is a reduction in the price of Jet A1, then ticket prices must come down because Jet A1 is a major component in operational costs and the cost of tickets.”
