No fewer than 91,380 persons could lose their jobs in the Nigeria’s aviation industry as revenue losses mount in Nigeria according to the International Air Transport Association.
The aviation industry has been dealt a huge blow following the outbreak of the COVID-19, in the release of a country specific analysis of the effects of COVID-19 on airlines’ operations, IATA said Nigeria would record 3.5 million fewer passengers, resulting in a $ 0.76bn revenue loss, risking 91,380 jobs and $0.65bn in contribution to the country’s economy.
The association had earlier predicted that the disruption to air travel due to the continued spread of coronavirus would cost Nigeria’s aviation industry over $434m in revenue, 22,200 jobs and approximately 2.2 million passengers up from the 853,000 losses in passenger volumes and $170m loss in base revenue projected in early March.
IATA called for an urgent action from the government to provide financial relief to airlines as the latest scenario for potential revenue loss by carriers, especially in Africa reached $4bn.
“This translates into a drop of industry revenues of 32 per cent for Africa for 2020 as compared to 2019,” IATA said.
The association noted that to minimise the broad damage that the losses would have across African economies, it was vital that governments stepped up their efforts to aid the industry.
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