Login

Lost your password?

Sign Up

Register

Login

Login

Lost your password?

Register

Wednesday, July 6, 2022
  • Home
  • Banking
  • Industry & Trade
  • Investing
  • Money Deals
  • Regional Markets
  • Tech & Biz
  • Countries
  • Opinion

Africa's
Investment
Gateway

The Exchange
  • Login
  • Register
Subscribe
This Month's Edition
Previous Editions
  • Home
  • Banking
  • Industry & Trade
  • Investing
  • Money Deals
  • Regional Markets
  • Tech & Biz
  • Countries
  • Opinion
No Result
View All Result
The Exchange
  • Home
  • Banking
  • Industry & Trade
  • Investing
  • Money Deals
  • Regional Markets
  • Tech & Biz
  • Countries
  • Opinion
No Result
View All Result
The Exchange
LOGIN
alternatetext
What the Pandemic means African Aviation Industry

Source: Freepik

What the Pandemic means for African Aviation Industry

African airlines total loss of revenue is at around $6 billion so far which means a GDP loss of about $28 billion and three million job loss in the industry.

by Caroline Muriuki
June 17, 2020
in Countries
0
Share on FacebookShare on LinkedIn

The African aviation is at a standstill according to a report by the International Air Transport Association (IATA).

According to IATA’S report, on May, 12th African flights were operating at just six per cent of the level of January 2020. The report also states that African airlines total loss of revenue is at around $6 billion so far which means a GDP loss of about $28 billion and three million job loss in the industry.

Many African airlines have gone into administrations including  South African Airways, South African Express, Air Mauritius and South Africa’s Comair with others also expected to follow suit. Air Mauritius noted that the objective of going into voluntary administration is to safeguard the interests of the company and re-engineer its activities so it can take off again once this crisis is over.

Some of the airlines in African had already been struggling before the COVID-19 pandemic with several of them reliant on government funding to bail them out, money which the governments do not have. With no government to fall back on, some of these airlines will look for public or private investors to fund them who in return will want some form of control for their money.

Also Read: South African Airways ends flights to Entebbe

Airport and air traffic companies have given support to some airlines while several airports in Ghana, Namibia and Seychelles got some relief which is not enough to sustain the airlines. Some countries that cannot provide funds to the airlines gave them tax breaks.

IATA in their report praised the African Union for providing $12.5 million in relief funds as well as the African Development Bank for giving $10 billion to the aviation industry in Africa. It also praised the union for persuading member states to each assign $4.5 million to help the aviation industry.

Demand for scheduled passenger flights is not likely to recover anytime soon. With travel restrictions making it impossible to fly to certain countries and places, many people are likely to shun air travel for fear of getting the coronavirus.

alternatetext

The African Airlines Association has prepared a recovery plan. The plan suggests intervention measures as part of  “urgent, immediate and consistent actions for the survival and rebound of the industry. The recovery of the airline industry will require coordinated efforts and a collaborative approach with all stakeholders”.

Also Read:Cheap flights coming to an end?

 

 

 

Tags: AfricaAfrican AirlinesAfrican airwaysAfrican aviation industryaviationAviation in Africa

STATE OF ECONOMY - GET THE REPORT

ASSESSING EAST AFRICA

Loading...

Caroline Muriuki

Related Posts

Africa

Unlocking Africa’s gas riches: Nigeria-Morocco gas pipeline a game changer

July 4, 2022
Africa

Powering Africa: Renewables safest bet for sustainable future

July 4, 2022
Countries

Era of the African Passport: A mixed bag of opportunities?

July 4, 2022
Next Post
4.4 million Ugandans could lose jobs –Report

4.4 million Ugandans could lose jobs –Report

Arkady Bukh- criminal defense lawyer at Bukh & Associates PLLC, NewYork

Fighting the global pandemic: Importance of information sharing within East Africa

The Ministers/ Cabinet Secretaries e-meeting on cargo tracking system

EAC partner states adopt electronic cargo system




This months edition

Features

Countries

Era of the African Passport: A mixed bag of opportunities?

by june njoroge
July 4, 2022
0

The African passport is a common passport document that is set to replace the existing nationally issued AU member states’...

Read more
Sibongile Thobakgale. She is the area sales manager for South Africa at Aggreko Africa. www.theexchange.africa
Investing

Transforming manufacturing in Africa

by Opinion
July 4, 2022
0

From cement to food and beverages to metal production and processing, manufacturing organisations are looking for sustainable energy solutions to...

Read more
Wallace Manyara. He is the Business Development Manager, Region South & East Africa, Wärtsilä Energy. www.theexchange.africa
Investing

Renewables, gas cheapest ways to meet Mozambique’s electricity demand

by Opinion
July 1, 2022
0

To meet its growing energy needs and increase electricity access across the population, Mozambique must build 1.3GW of new power...

Read more
By 2030, tech financing in Africa will hit US$90 billion. African governments have a lot to do to reduce the risk of investing in tech startups. www.theexchange.africa
Tech & Business

Challenges and opportunities across Africa’s tech ecosystems

by Njenga Hakeenah
July 4, 2022
0

In addition, governments have to make things better for businesses. Currently, tech start-ups have to pay a lot to comply...

Read more
Foreign Currency Auction System Fails to Meet Soaring Demand
Industry and Trade

Foreign currency auction fails to meet soaring demand

by Laurence Sithole
July 4, 2022
0

Despite these fundamentals, the Zimbabwe dollar has continued to slide against the United States dollar prompting the government to take...

Read more

News

Banking
Industry & Trade
Investing
Money Deals
Regional Markets
Tech & Biz
Opinion

Countries

Kenya
Tanzania
Uganda
Burundi
Rwanda
Southern Africa
Ethiopia

More

My Account
Contact us
Advertise
About us
Help Center

Subscribers Center

E-paper
Premium Stories
Education Rates
Corporate Subscriptions
Weekely Newsletter

  • My account
  • About us
  • Advertise
  • Contact
  • Privacy Policy
  • Refund Policy – The Exchange
  • Sitemap

No Result
View All Result
  • Home
  • Banking
  • Industry & Trade
  • Investing
  • Money Deals
  • Regional Markets
  • Tech & Biz
  • Countries
  • Opinion
  • Login
  • Sign Up
  • Cart

© 2021 The Exchange - Powered by MediapixManaged by Supported by Digihandler,

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In