African Airlines Face $8 Billion Loss as Pandemic Devastates Air Travel

With more than $8 billion in losses, the turnover of these airlines has recorded a record drop of 68% compared to 2019.

According to AFRAA, which has 45 African companies, these new figures are even more overwhelming than the forecasts of the International Air Transport Association (IATA). In April, they were forecasting an annual loss of $6 billion.

Furthermore, AFRAA’s impact analysis shows an annual reduction in passenger traffic of 90.3% during the month of May. As for the resumption of activities, it should start from the 3rd quarter of 2020 with local connections, followed by regional and intercontinental flights.

To avoid a cascade of bankruptcies, the association calls for urgent government support.