COVID-19: Airlines lose N7bn monthly-FG

Idealposts

The Federal Government has revealed that the aviation agencies in the country have so far recorded N7 billion loses monthly since the ban on flight operatios as a result of coronavirus pandemic.
Minister of Aviation, Senator Hadi Sirika made this disclosure on Wednoesday in Abuja, during a press briefing of the Presidential Task Force on Covid-19.
Sirika also asserted that many airline operators may not recover from the loses resulting from the crisis.
According to the Minister, “Based on the trend of events, prior to Covid-19, the total loss is about N21billion approximately, plus about N3billion. This is divided in this form, N7billion for aviation agencies, for what they are loosing a month, N10billion for Airlines, N4billion for ground handling/catering”
Sirika said, “Statistics provided by the International Airlines Transport Association, IATA, the impact on Nigeria’s aviation market, Nigeria has lost $994milion in Airlines revenue.
“In terms of employment at risk, in Nigeria it is 125,370, loss of contribution to the GDP of the country is $885million. Th260 Nigerians evacuated from UAE arrive Lagosis is the situation of the Civil aviation. It is really a pathetic one. We are all crying. I can guarantee you that several Airlines are not going to come out of this unfortunately”