The President of the National Association of Nigeria Travel Agencies (NANTA), Susan Akporiaye, said on Friday the operators had lost $550 million in revenue due to a drop in ticket sales and an increase in fuel prices.
Airline operators in Nigeria raised airfares due to the increase in the price of Jet A1 known as aviation fuel from N200 to about N1,000 per litre last year.
The hike in aviation fuel was driven by scarcity of the product after the Russia and Ukraine war disrupted the distribution of crude, forcing western countries to hoard the refined commodity.
