AFRAA: African airline revenue losses to reach USD8.56bn in 2020

African Airlines Association (AFRAA) reported (13-Jul-2020) the following highlights in its second COVID-19 impact assessment:

• Revenue losses for African airlines estimated to reach USD8.56 billion in 2020;
• Passenger revenue decreased by USD506 million (-17.3% year-on-year) in 1Q2020, followed by a larger impact of USD2.74 billion (-90.2%) in 2Q2020;
• Traffic (RPKs): Decreased by 48.3% in Mar-2020, 76.3% in Apr-2020, 89% in May-2020 and 88.9% in Jun-2020;
• Capacity (ASKs): Decreased by 19.7% in Mar-2020, 77.7% in Apr-2020, 79.2% in May-2020 and 76.2% in Jun-2020;
• Recovery is expected to start from mid 3Q2020;
• AFRAA noted the COVID-19 infection rate in Africa is rising, with the number of cases more than tripling between 14-May-2020 and 14-Jun-2020. The most impacted countries are South Africa, Egypt, Nigeria, Ghana and Algeria. [more - original PR]