Public Management

Coronavirus could cost Kenya Airways $8mln

Coronavirus could cost Kenya Airways $8mln
Wednesday, 26 February 2020 15:59

The growing Coronavirus outbreak is bringing a heavy blow to Kenya Airway’s revenues. The airline could lose about $8 million due to the epidemic, according to Deputy MD Allan Kilavuka.

In an interview with The EastAfrican, the official said: “We are looking at lost revenue of about $8 million, both passenger and cargo.” This is the consequence of the shutdown since January 31 of lines to China, but Mr. Kilavuka said the company has various initiatives to increase passenger and cargo revenues on other routes to “minimize this impact.

Other African airlines such as Egyptair, Royal Air Maroc, Rwandair, Air Mauritius, Air Madagascar, and Air Algerie have also suspended routes to China. Only Ethiopian Airlines continues to serve the country but has however reduced flight frequencies.

Globally, airlines could see a 4.3% drop in passenger demand this year, according to the International Air Transport Association (IATA). In this scenario, revenues will slide by $29.3 billion, including $27.8 billion for carriers in the Asia Pacific region and $1.5 billion for those out of Asia. IATA says Chinese airlines alone will lose $12.8 billion.

Romuald Ngueyap

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
SIB net profit rose to 56 billion CFA francs in 2025 Lower risk costs and higher income supported performance Assets, loans and deposits...
Loan-loss provisions at the nine BRVM-listed banks that reported 2025 earnings rose 18% to $137 million as regional growth hit a record 6.7%. BOA...
Company seeks to raise 485.8 billion naira through share offering Funds to support expansion and reduce debt Strategy aims to boost local sugar...
AFC raises $100 million from India’s Exim Bank over five years Funding to support infrastructure and industrial projects in Africa Deal reflects...
Most Read
01

(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...

EBID makes giant strides for a green transition in west africa
02

Mahindra & Mahindra is considering a CKD assembly plant near Durban to strengthen its presence i...

Mahindra & Mahindra Eyes Major Shift to Full Vehicle Assembly in South Africa
03

AFC disbursed €43 million for Côte d’Ivoire solar project Financing supports 66 MW pla...

AFC Backs First Green Project Finance Bond for 66MW Côte d’Ivoire Solar Plant
04

Mobile phones have become essential tools for work, education, payments and staying connected across...

EU Mandates Removable Phone Batteries. What It Means for Africa’s Device Market 
05

MTN Ghana launches crackdown on mobile money agent fraud Audits trigger warnings, suspensions...

MTN Ghana tightens controls on mobile money agents over fraud concerns
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.