Emergency aid of up to $200bn is needed to save airlines
Africa’s air transport industry contributes about $55.8bn to the continent’s economy, representing 2.6% of its combined GDP
Someone once said history doesn’t repeat, but it rhymes. Today, as all the world’s airlines face a cataclysm caused by the Covid-19 pandemic, memories of the post 9-11 period come to mind. But this crisis is far worse. Within a period of a few weeks, airlines have seen passenger demand completely collapse.
For most carriers the market for air travel is actually below zero — the number of people cancelling flights exceeds the number of new bookings. That is not surprising given that more than 100 governments have closed their borders to foreign visitors and/or imposed lengthy quarantines that have the same practical effect...
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