COVID-19: IATA Foresees $23Bn Revenue Loss By African, Middle East Airlines

Projected potential revenue loss by airlines in Africa and the Middle East may have hit US$23 billion (N8.74 trillion) due to the Coronavirus pandemic ravaging the world. Mr Muhammad Al-Bakri, the Regional Vice President for Africa and the Middle East of the International Air Transport Association (IATA), made the disclosure in a statement issued in Lagos on Thursday. Al-Bakri said about US$19 billion (N7.22 trillion) and US$4 billion (N1.52 trillion) had so far been lost by the airlines operating in the Middle East and Africa, respectively, adding that this translated…

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