Kenya Airways may lose US$0.65bn in 2020 due to the disruptions caused by COVID-19

KENYA – Kenya Airways (KQ), the national carrier, has announced that it may lose up to KSh70 billion (US$0.65bn) or more in 2020, compared to the KSh12.98 billion (US$0.12bn) losses it recorded in the 2019 financial year. This is an upward revision from the KSh50 billion (US$0.46bn) it had projected as of June. Kenya Airways Chief Executive Officer Allan Kilavuka said the forecast has been influenced by disruptions caused by COVID-19. “We kept on revising the dates on when we expected to resume our flights operations and we are also…

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Airlines Association study reveals US$8 billion loss for African airlines from Covid-19 in 2020

KENYA – The African Airlines Association (AFRAA) has released an analysis that reveals a significant US$ 8.103 billion loss due to the COVID-19 pandemic by the airline industry in Africa for the year 2020.  The analysis by the Association, which brings together 42 airline members from across the continent, showed that passenger revenues across Africa dropped by US$ 0.403 billion in Q1 2020, 13.8% below 2019 figures, before rising substantially in Q2 to US$ 2.74 billion, a 90.2% drop from 2019. However it expects recovery to start from Q3 2020 with domestic operations, followed by…

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