Job losses in Africa’s aviation sector could hit 3.1 million due to adverse effects of Covid-19, the International Air Transport Association (IATA) has said. The aviation lobby said this while appealing for capital relief for the region’s airlines which are expected to incur a $6 billion loss in passenger revenue compared to the $2 billion earlier projected. It recently reviewed Covid-19 loss projection to Sh70 billion or more this year after posting Sh12.98 billion losses last year. In 2017, KQ restructured $2 billion of debt as a turnaround plan after heavy losses. As part of its assistance to the company’s revival efforts, the government also offered contingent guarantees for $750 million of the airline’s debt for 10 years.

Source: The Star September 22, 2020 00:56 UTC