In May 2022 news outlets covered the story of Nigerian airlines announcing the cancellation of all domestic flights due to the increased cost of jet fuel. A spokesperson for the Airline Operators of Nigeria was quoted as saying “No airline in the world can absorb this kind of sudden shock from such an astronomical rise over a short period”.
Nigerian airlines explained they had been cancelling flights as a result of jet fuel shortages. Although Nigeria is a major fuel producer, jet fuel typically gets exported. The announcement got the attention the airlines were seeking but in the end no schedule changes made their way into the OAG data platform.
The jet fuel price started to rise sharply after Russia’s invasion of Ukraine in February. By the second week of May the IATA jet fuel monitor showed that the price had gone over USD 176 per barrel, 11.6% more than a month earlier. This put the price at almost 150% more than the previous year although there were significant variations by…
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