African Airlines May Lose Over N12bn In 2020 Over Coronavirus

African airlines, including those operating in Nigeria, will be hit by N12.28 billion ($40) million loss in revenue in 2020 due to the disruption caused by the outbreak of the China coronavirus (COVID-19).

Airlines around the world including Nigeria have either suspended or modified their flights to China and other high risk routes, as the COVID-19 hits countries.

The International Air Transport Association (IATA) said on Wednesday in Addis Ababa, that the global aviation industry is projected to lose $29 billion, which represents a 4.7% industrial drop in 2020.

The IATA special envoy to Africa, Raphael Kuuchi, said that the impact could be as much as N12.28 billion ($40 million dollar)  on African airlines.

Egypt, Nigeria, South Africa and Senegal have reported cases of the virus, which triggered further modifications of flights to the high risk countries like China, Italy and South Korea.

Nigerian travellers and other airline customers have restricted their demand for flights especially to the regions, according to, Tewolde GebreMariam, chief executive officer of Ethiopian Airlines, Africa’s largest carrier.

Kenya Airways and RwandAir had last month suspended all flights to and from China, despite World Health Organisation’s warning over such action.

Kenya similarly paused direct flights from Italy’s northern cities of Verona and Milan, which usually head to the Kenyan coast due to the spread of the virus, on Tuesday..