There are indications that airfares may jump in the coming weeks following the hike in the cost of aviation fuel, commonly referred to as Jet A1, a development that is already putting pressure on airline operations and signalling higher ticket costs for passengers.
The spike in JetA1 price is largely due to the crisis in the Middle East, which has slowed the production and movement of crude oil across countries, worsening the operational cost of domestic carriers.
Checks by our correspondent with airlines showed an astronomical increase in the operating cost of airlines, particularly caused by the spike in aviation fuel, which has become the dominant cost driver in recent weeks.
At the time of filing this report, aviation fuel, which was sold between N900 and N995 before the Middle East crisis commenced, has jumped to between N2,500 and N2,700, depending on the airport of delivery, sharply raising the cost burden for operators.
Operators said they were monitoring developments, stressing that an increase in airfares was imminent, with strong indications that the prices of air tickets might double if the current trend persists.
Aviation fuel remains the single highest component of airline operations, accounting for about 30 to 35 per cent of total operational costs, a figure that industry players say is rising rapidly under current market conditions.
Airline sources said the price of the product had remained unstable since February 28, 2026, when the war started in Iran, changing about five times since that time, further complicating planning and pricing decisions.
