How We Are Responding To Inflation, By UNA COO
The Chief Operating Officer (COO) of United Nigeria Airlines (UNA), Mazi Osita Okonkwo has spoken on how his airline is responding to inflation in the light of fuel subsidy removal in Nigeria.
In an interview with aviation journalists during the 27th Annual Conference & Awards of League of Airport & Aviation Correspondents (LAAC) held in Lagos, Okonkwo said: “Once there is inflation, costs are going to rise at all levels, operationally, administratively and so on. The unfortunate thing in Nigeria is that we normally have spikes in costs rather than the normal gradual inflationary related costs. We wait until after a long time and then, we have an adjustment which becomes very difficult to manage. But we are reacting to it. Obviously, there are some we will absorb directly. There are some we will pass to passengers by adjusting the fares. But, it’s not going to be immediate because we know that the gradual increase is not what people can easily absorb.”
On access to forex, he said: “In terms of access, I think it’s becoming better and better. The cost is very volatile. But in terms of access, yes. If you want and you can pay, I think you will have access to that. But you have to have the Naira and Naira is a scarce commodity now.”