Browsing: Latin America

• Major African airlines have been hard hit since the Covid-19 pandemic struck.

• This year is however expected to bring good tidings for the industry, albeit low profit margins.

• IATA expects a return to profitability for the global airline industry in 2023, as airlines continue to cut losses stemming from the effects of the pandemic to their business in 2022. 

The global aviation industry is set for a bounce back this year as airlines navigate turbulence that has shaken the industry since 2020, threatening to bring down carriers in the market.

Major African airlines have been hard hit since the Covid-19 pandemic struck.

A report by the African Airlines Association (AFRAA) indicates the pandemic hit Africa’s aviation industry in 2021, resulting in an estimated $8.6 billion loss.

While the figure was less than the $10.21 billion loss recorded by the sector in 2020, it was still a 49.8 per cent decline …