Business
Africa’s Aviation Sector To Lose $0.7bn – IATA
The aviation sector in Africa, including Nigeria, looks likely to lose about $0.7 billion this year to slow COVID-19 vaccination rates, the International Air Transport Association (IATA) has said.
According to a short video the association carried on its social media page, lower vaccination rates slowed Africa’s air travel recovery, but some “catching up” could happen this year.
“In Africa, the financial performance of carriers has been upgraded. As the pace of aviation recovery quickens, carriers in the region are expected to post net losses of $0.7 billion in 2022, up from $1.1 billion in 2021.
“Lower vaccination rates have dampened the region’s air travel recovery to date. Some catching up is likely this year. This will contribute to improved financial performance.
“In 2022, demand (RPKs) in Africa is expected to reach 72 per cent of pre-crisis (2019) with capacity reaching 75.2 per cent,” the IATA said.
Meanwhile, the aviation sector in the region recorded a rise in traffic in May, according to a report by the association last week.
The report said African airlines had a 134.9 percent rise in May revenue passenger kilometres (RPKs), a metric used in measuring the traffic, versus a year ago.
According to the report, the capacity for May 2022 was up 78.5 per cent, and load factor climbed 16.4 percentage points to 68.4 percent, the lowest among regions.
IATA’s Director-General, Willie Walsh, advised governments to work more closely with operators.
“In the longer term, governments must improve their understanding of how aviation operates and work more closely with airports and airlines.
“Having created so much uncertainty with knee-jerk COVID-19 policy flip-flops and avoiding most opportunities to work in unison based on global standards, their actions did little to enable a smooth ramping-up of activity.
“And it is unacceptable that the industry is now facing a potential punitive regulatory deluge as several governments fill their post-COVID-19 regulatory calendars.
“Aviation has delivered its best when governments and industry work together to agree and implement global standards,” Walsh said.
Business
NCDMB, Jake Riley Empower 250 Youths On Vocational Skills
Business
NUJ Partners RSIRS On New Tax Law Education
Transport
Nigeria Rates 7th For Visa Application To France —–Schengen Visa
-
Sports3 days agoArsenal Women End Man City’s Invincibility
-
Sports3 days agoU-20 WWC: Falconets claim qualifier win
-
Sports3 days agoInsurance Deepen Enyimba’s Trouble
-
Sports3 days agoYouth Olympics preparation Gears up
-
Sports3 days agoCologne Youth Team Set Crowd Record
-
Sports3 days agoTornadoes Set For NPFL exit over Stadium Ban
-
Sports3 days agoPalmer Stars As Chelsea Compound Wolves Woes
-
Sports3 days agoBarca Pull Out Of Super League Project
