Airlines brace for Sh424 billion loss
By Jacktone Lawi, October 18, 2022
REVENUE: Losses in the aviation sector are expected to hit $3.5 billion (Sh424 billion) this year despite a majority of airlines resuming full operations.
Latest industry figures show that the projected revenue loss due to Covid-19 for the third quarter of 2022 is approximately $800 million (Sh96.87billion).
Data from African Airlines Associations (AFRAA)-a trade association of airlines, show that revenue loss for 2022 to be $3.5 billion (Sh424 billion), equivalent to 20 per cent of 2019 full year revenues.
“African airlines have now resumed operations to 99.2 per cent of routes operated before the pandemic. Eight African airlines have exceeded the number of international routes they operated before Covid,” AFRAA said in its monthly report. – Jacktone Lawi