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Browsing: African Aviations
The International Air Transport Association (IATA) highlighted three main priorities that governments in Africa can work on to ensure the survival of African aviation, travel and transport and be able to support economic growth, recovery and development.
IATA highlighted the priorities as: the safe reopening of borders, planning safe restart of operations and the release of committed aid and blocked funds as well as constant financial relief.
IATA noted that in 2020 African airlines received $2.04 billion in government aid which was mostly distributed through cash injections, direct government loans and equity financing. Despite this support, eight airlines in Africa filed for bankruptcy or entered into business administration last year.
In 2020, Air Mauritius (AM) was the first African airline to enter voluntary administration due to the pandemic. South African Airways (SAA) which racked up more than $3.9 billion in debt since 1994 followed as well as South African Express …