The Airline Operators of Nigeria (AON) on early today has announced the shutdown of operations, with effect from Monday, Naijacrawl reports.
The decision was taken due to exponential cost of Aviation fuel, which has reached an all-time high of N700 per litre.
According to AON, the current situation with Jet A1 has shot up the cost of operations to over 95 percent.
The Operators stated their intention in a letter its President, Alhaji Abdulmunaf Yunusa Sarina, sent to the Minister of Aviation, Hadi Sirika.
The letter partly reads: “It is with a great sense of responsibility and patriotism that the Airline Operators of Nigeria (AON) have carried on deploying and subsidizing their services to our highly esteemed Nigerian flying public in the last four months despite the steady and astronomical hike in the price of JetA1 and other operating costs.
"Overtime, aviation fuel price (JetA1) has risen from N190 per litre to N700 currently. No airline in the world can absorb this kind of sudden shock from such an astronomical rise over a short period."
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