In addition, the chief regulator said human and cargo traffic at many airports have also reduced with declining purchasing power of passengers and shippers.
Usman stated this in his paper titled, “The Acts of Promoting a Sustainable Air Transport Economy While Maintaining High Level of Aviation Safety Standards,” delivered at the Airport Business Summit and Expo in Abuja where he also sought ample protection for the regulatory agency against political interference.
The Director-General also observed that aviation fuel known as Jet A1 also constitutes challenge to the airlines taking as much as 40-50 per cent of their operation costs.
He said beside the high cost of operations, there has been steady devaluation of naira in which the airlines’ income is mostly denominated while their major expenses are dollar-based.
