The International Air Transport Association (IATA) has projected a $1.5 billion loss for African airlines in 2022, down from a $1.9 billion loss in 2021.
IATA has attributed this slow pace of recovery in the industry to low vaccination rates across the continent. The body says the projected improvement is built on the expectation of some recovery in intra-Africa travel and travel to some tourist destinations with relatively higher vaccination rates.
The Association says the global net industry losses are expected to reduce to $11.6 billion in 2022, down from a $51.8 billion loss in 2021. Over the 2020-2022 period, total losses could top $200 billion.
The Association further says air cargo business is performing well, and domestic travel will near pre-crisis levels in 2022.