This archive report was first published on 8 June 2020.
As the COVID-19 pandemic continues to ravage the world, Africa's aviation industry is facing a significant revenue loss. According to a report by the African Airlines Association (AFRAA), the industry is expected to suffer an estimated $8.103 billion revenue loss this year.
The report, released this week, highlights the devastating impact of the pandemic on the aviation sector. Passenger revenue dropped to $0.403 billion in Q1 2020, representing a 13.8% year-over-year decline. The impact was even more severe in Q2, with a loss of $2.740 billion.
AFRAA's analysis shows that the industry recorded a 90.3% year-over-year passenger traffic reduction for the month of May. The report also notes a significant reduction in belly cargo capacity due to the suspension of passenger flights, with capacity dropping by 16.169 billion available seat miles in May, a 78.40% reduction year-over-year.
AFRAA Secretary General Abdérahmane Berthé emphasized the need for liquidity to reboot the industry.
