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Airlines Project Flight Delays over Aviation Fuel Scarcity, Price Hike

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Airline Operators of Nigeria, a body that comprises local airlines have decried the scarcity of aviation fuel, predicting its effect on flight schedules.

Investors King reports that the price of aviation fuel also known as Jet A1 has drastically risen between N700 and N900 per litre as its market is not well regulated.

The Assistant Secretary of Airline Operators of Nigeria, Ewos Iroro, in an interview on Tuesday, in Abuja stated that the fuel scarcity and price hike may cause flight delays at several airlines.

He said the aviation fuel price fluctuates without regulation as each marketer’s fuel price is influenced by how much he bought it which has made the price changes unpredictable due to the deregulated market.

According to a report by Philips Consulting Limited titled— Nigeria’s Aviation Industry Customer Satisfaction Survey Report for 2022, $192bn was spent by the country’s aviation sector on aviation fuel last year.

The report says that the aviation fuel price grew to 70 percent within the first six months of 2022 which was a major issue for airlines during the period.

“Fuel is the industry’s largest cost item with $192bn in 2022. The ongoing war in Ukraine, which keeps prices for Brent Oil high, continues exacerbating the situation. The increased jet fuel price now represents a significant challenge for airlines in the first six months of 2022. 

“Jet fuel price rose more than 70 percent indicating one of the steepest jumps in jet fuel price since 2022. The rise in jet fuel is driven by the soaring crude oil price following Russia’s invasion of Ukraine in February 2022 when the Brent crude oil price rose by 11 percent,” it read.

On the current production rate, the data indicated that Airbus is faced with some challenges which have been hindering the increase in the production of the A320 family to 65 percent.

“Particularly with the 787, there remains a lack of certainty around production. However, the supply chain bottlenecks cascade throughout the aerospace industry hitting companies such single-engine light aircraft manufacturers such as Cirrus-Aircraft,” it stated.

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Ethiopian Airlines Group Celebrates 78 Years of Excellence and Innovation

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Ethiopian Airlines Group, Africa’s leading airline organization, commemorated its 78th anniversary with a tribute to its rich history of resilience and innovation since its inception in 1946.

Led by its Group Chief Executive Officer, Mr. Mesfin Tassew, and Chief Commercial Officer, Mr. Lemma Yadecha, the airline marked this significant milestone with a special flight to Cairo, retracing its inaugural international service route.

Reflecting on the occasion, CEO Mesfin Tasew emphasized the airline’s enduring commitment to passenger service and servant leadership.

He highlighted Ethiopian’s journey from modest beginnings to becoming a pioneering force in African aviation, introducing numerous innovations along the way. Tasew’s sentiment encapsulated the airline’s ethos of prioritizing passenger satisfaction and continuous improvement.

In keeping with its tradition of community engagement, Ethiopian Airlines distributed Seasons Greeting Packages and Happy Fasting Messages to passengers, embracing the diverse cultural backgrounds of its travelers.

This gesture underscored the airline’s dedication to fostering unity and inclusivity among its passengers, transcending geographical boundaries.

Chief Commercial Officer, Lemma Yadecha, emphasized the airline’s mission to go beyond transportation, aiming to create a sense of belonging for all passengers.

By assuming roles typically held by ground and flight crew members, Ethiopian Airlines honored its dedicated staff and the countless individuals who contributed to its success over the past 78 years.

As Ethiopian Airlines celebrates this historic milestone, it reaffirms its commitment to service excellence and innovation in the aviation industry, promising to continue leading Africa’s skies with distinction and pride.

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Global Air Travel Surges by 21.5% in February, IATA Reports

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Global air travel increased by 21.5% in February, according to the latest report from the International Air Transport Association (IATA).

This surge represents a significant improvement from January’s 16.6% growth and reflects increasing confidence in air travel despite ongoing challenges.

The latest report from IATA revealed that the surge in demand was accompanied by a notable rise in capacity, which grew by 18.7% compared to the same period in 2023.

This surge in capacity underscores airlines’ efforts to meet the growing demand for air travel worldwide.

One of the most encouraging aspects of the report is the notable increase in the February load factor, which soared to 80.6%.

This represents a substantial increase of 1.9 percentage points compared to the previous year, indicating a higher utilization of available capacity.

International demand for air travel saw a particularly robust growth, surging by 26.3% compared to February 2023.

This surge was matched by an increase in capacity, up by 25.5% year-on-year, leading to an improved load factor of 79.3% for international flights.

Willie Walsh, the Director-General of IATA, expressed optimism about the industry’s prospects in 2024, citing airlines’ accelerated investments in decarbonization and the resilience of passenger demand in the face of geopolitical and economic uncertainties.

However, he cautioned against new taxes that could destabilize the positive trajectory and make travel more expensive, particularly in Europe.

Industry experts have lauded the aviation sector’s resilience in attracting more passengers and expanding its capacity amidst challenges. Despite currency devaluation and soaring aviation fuel prices in countries like Nigeria, air travel demand remains robust.

Susan Akporiaye, President of the National Association of Nigerian Travel Agencies, emphasized the sustained high traffic levels despite the challenges faced by travelers.

The global aviation industry is still on the path to recovery from the negative impact of the COVID-19 pandemic.

According to the Ministry of Aviation, the industry lost about N21 billion monthly during the COVID-19 lockdown. Analysts project that it may take until the end of 2024 for the industry to fully recover to pre-pandemic levels.

As air travel continues to rebound, stakeholders remain cautiously optimistic about the industry’s future trajectory. The surge in demand observed in February underscores the resilience of air travel and its importance in facilitating global connectivity and economic growth.

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Emirates Airlines Set to Resume Nigeria Operations by June 2024, Confirms Aviation Minister

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Emirates Airlines is on track to resume its operations in Nigeria by June 2024.

The news was confirmed by the Minister of Aviation and Aerospace Development, Festus Keyamo, during an interview on Arise Television on Monday.

Keyamo revealed that the Emirates’ return to Nigeria follows extensive negotiations and resolution of longstanding issues between the Nigerian government and the United Arab Emirates (UAE).

He highlighted the pivotal role played by President Bola Tinubu in facilitating diplomatic efforts to mend relations between the two countries.

“The resumption of Emirates flights is almost happening. I just received a letter from Emirates confirming their readiness to come back,” stated Keyamo during the interview.

He further explained that Emirates Airlines had completed all necessary processes and was now awaiting the finalization of operational details before announcing the exact date for its first flight back to Nigeria.

The minister expressed gratitude for the collaborative efforts that led to this breakthrough, emphasizing President Tinubu’s proactive engagement in resolving the bilateral issues.

“Mr. President was the showman here. He made my job easy because he went there and had a diplomatic shuttle to resolve all the issues,” Keyamo noted.

The suspension of Emirates’ flight operations to Nigeria in October 2022 had left travelers and businesses grappling with limited connectivity options.

The airline attributed the halt to challenges in repatriating funds held in Nigeria, amounting to $85 billion.

However, following sustained diplomatic engagements and concerted efforts by both nations, the impasse has been successfully resolved, paving the way for Emirates’ return.

Keyamo’s announcement comes after a series of discussions with Emirates representatives, indicating significant progress toward the airline’s comeback.

 

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