Browsing: Impact of Covid on Aviation industry

• Algeria tops countries holding airlines’ blocked funds in Africa at $261 million followed by countries within the XAF Zone that are trapping $140 million.
• Ethiopia has $115 million in blocked funds for airlines while its neighbour Eritrea is sitting on $75 million.
• Zimbabwe closes the top five countries with blocked funds at $69 million.

Airlines across the world continue to struggle to repatriate their profits, with several African countries accounting for the bulk of blocked funds at $880 million. This amount, which represents 52 percent of the total $1.68 billion blocked funds globally continues to act as a hindrance to the growth of the industry post-Covid-19 fallout.

Data from the International Air Transport Association (IATA) has single out Algeria, the XAF Zone, Ethiopia, Eritrea, and Zimbabwe as the top five countries in Africa where airlines are struggling to repatriate their profits.

Across Africa, Algeria tops among …