Business
Africa’s Biggest Airline Fights For ‘Survival’ Amid Pandemic
Africa’s largest carrier, the Ethiopian Airline is now locked in what its Chief Executive Officer, Tewolde Gebremariam describes as “a struggle that we’re performing for survival”, ramping up cargo operations while seeking to defer lease payments on aircraft.
Gebremariam had told an aviation conference in Addis Ababa recently that the coronavirus pandemic was “a temporary problem” – comparable to a natural disaster or a spike in oil prices.
“To be honest with you, I had never thought that it would reach this stage,” Tewolde told AFP in an interview.
“I had never thought that it would spread like this at this speed, and also in this magnitude. It is just too fast and too expansive and it’s beyond imagination,” he said.
Across Africa, airlines stand to lose $6 billion in passenger revenue in 2020 compared to last year because of the coronavirus, the International Air Transport Association has predicted.
Ethiopian Airlines, the state-owned jewel of the national economy and a vital source of foreign currency, says it is facing a revenue loss of $550 million from January to April alone.
“If you put yourself in my shoes, the only way for Ethiopian Airlines is to expand or refocus its resources, energy and time on businesses which are not affected by coronavirus,” Tewolde said.
Business
Customs Launches Digital Vehicle Verification System To Tackle Smuggling
Business
NDDC Unveils Naval Facilities To Boost Region’s Security
Business
FG Fixes Uniform Prices for Housing Units Nationwide, Approves N12.5m For 3-bedroom Bungalow ……..Says Move To Enhance Affordability, Ensures Fairness
“The approved selling prices are as follows: One-bedroom semi-detached bungalow, N8.5 million; two-bedroom semi-detached bungalow: N11.5 million and three-bedroom semi-detached bungalow, N12.5 million,” the statement added.
Minister of Housing and Urban Development, Ahmed Dangiwa, stated that priority in the allocation of the housing units would be given to low and middle-income earners, civil servants at all levels of government, employees in the organised private sector with verifiable sources of income, and Nigerians in the Diaspora who wish to own homes in the country.
The Permanent Secretary in the ministry, Dr. Shuaib Belgore, explained that several payment options have been provided to make the houses affordable and flexible. These include outright (full) payment, mortgage, rent-to-own scheme, and installment payment plans.
The ministry further announced that the sale of the completed housing units across the northern and southern regions will soon commence.
“Applications can be made through the Renewed Hope Housing online portal at www.renewedhopehomes.fmhud.
The ministry, however, clarified that the approved prices apply strictly to the Renewed Hope Housing Estates which are funded through the ministry’s budgetary allocation, as against the Renewed Hope Cities in Karsana Abuja, Janguza Kano, Ibeju Lekki, Lagos which are being funded through a Public Private Partnership (PPP).
-
Oil & Energy10 hours agoHysteria Clashes with Missing Oil Barrels
-
Nation6 hours agoCommunity Health Practitioners Marks 2025 Week
-
Business3 days agoNigeria’s Gold, Other Solid Minerals Being Stolen – NEC
-
Editorial10 hours agoStrike: Heeding ASUU’s Demands
-
Oil & Energy10 hours agoOil Theft: Economic Council Urges NNPC To Strengthen Security In Creeks
-
News10 hours agoAir Peace Begins Direct Flight From Abuja To London
-
Business10 hours agoNigeria Exits FATF Grey List For Global Financial Crime ………..NFIU
-
Nation6 hours agoOgoni Cleanup Programme, Enabling Pathways To Development Of Ogoni – Zabbey
