Thursday, July 2, 2020

African Airlines to lose $100 million in 2018

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Fred Dzakpata
Fred Dzakpata is a Ghanaian journalist who specializes in business reporting in Africa.
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African Airlines are expected to loose about hundred million dollars in 2018 based on a collective net loss of hundred million dollars in 2017.

A statement released by the International Air Transport Association said stronger forecast economic growth in the region was expected to support demand growth of 8.0 per cent in 2018, slightly outpacing the announced capacity expansion of 7.5 per cent.

It said the wider economic situation was only improving slowly in Africa, which was hampering the financial performance of its airlines.

The Association also said with high fixed costs, this low utilization made it very difficult to make profit but stronger economic growth would help in 2018.

“the continent’s governments need a concerted effort to further liberalize to promote growth of intra-Africa connectivity” the statement added.

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Source: Africafeeds.com

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