IATA Predicts $300m Loss For Nigeria, African Airlines In 2019
Minister of State, Aviation, Hadi Sirika unveiling Nigeria Air in London.

The International Air Transport Association (IATA) has said that African carriers will make a net loss of $300m in 2019 despite an expected global net profit of $35.5bn.

A statement by the IATA noted that loss is, however, an improvement from $400m made in 2018.

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“We are cautiously optimistic that the run of solid value creation for investors will continue for at least another year,” the IATA said.

“But there are downside risks as the economic and political environments remain volatile

“2019 is expected to be the 10th year of profit and the fifth consecutive year where airlines, on the whole, deliver a return on capital that exceeds the industry’s cost of capital, creating value for its investors.”

“So we are cautiously optimistic that the run of solid value creation for investors will continue for at least another year. But there are downside risks as the economic and political environments remain volatile.”