*As continent’s airlines face $40m hit from coronavirus
Wole Shadare, with agency reports
To meet market demands, Africa will need over 1,200 new passenger and freighter aircraft.
By 2038, we will see double the number of planes we currently see in the sky according to the Airbus Global Forecast.
This is coming as aircraft giant, Airbus Industries has pledged commitment to Africa’s burgeoning aircraft market, saying the continent has witnessed exponential growth and would continue to grow because of the enormous potentials in the region.
Mikail Houari, President, Airbus Africa & Middle East, who disclosed this, said “The potential for aviation in Africa is immense and our focus remains on the full aerospace value-chain. Our aim is to provide best-in-class products and services, develop sustainable partnerships, foster innovation, nurture talent, enhance skills and promote entrepreneurship in Africa.”
He made the disclosure Wednesday as Airbus this week, joined experts and key decision makers in the aviation industry at the on-going Aviation Africa Summit and Exhibition.
The two-day summit is a major trade event for the aerospace and defence industries with speakers from African airlines, civil aviation authorities, business aviation and support industries.
He said the aviation industry finds itself in a complementary growth pattern with the African economy.
Just as industry expansion creates jobs, attracts investment and produces manufacturing opportunities across the continent, it is also set to be a major beneficiary of Africa’s accelerating and continued economic growth, forecasted by the African Development Bank to be at 3.9 percent this year and 4.1 percent in 2021.
Meanwhile, the coronavirus disruption could cost African airlines $40 million in revenue this year, a global industry body said on Wednesday, a potentially devastating hit to often struggling airlines counting on lucrative Chinese routes to fund expansion.Airlines around the world have suspended or modified flights after the outbreak of the COVID-19 coronavirus, which began in mainland China late last year and has now spread to more than 60 countries around the world.The global hit to the aviation industry is projected to be $29 billion this year – a 4.7% industry-wide drop in revenue per passenger kilometre, the International Air Transport Association (IATA) has said.The blow to African airlines could be as much as $40 million, IATA’s Special Envoy to Africa, Raphael Kuuchi, said at an aviation conference in Addis Ababa.IATA forecast in December that African airlines would make a loss of around $200 million this year, similar to 2019.Tewolde GebreMariam, Chief Executive Officer […]