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Nigeria, others suffer 69% air passenger revenue drop –Report

The global total industry passenger revenues fell by 69 per cent to $189bn in 2020, with accumulated net losses of $126.4bn, according to the latest data from the International Air Transport Association.

The industry statistics show that the number of passengers carried on schedule services plunged by 65.7 per cent, with Africa as the largest loser of passenger traffic after Europe.

The decline in air passengers transported in 2020 was the largest recorded since global revenue passenger-kilometers started being tracked around 1950.

The statistics also confirmed that domestic air passenger demand dropped by 48.8 per cent, compared to 2019, while international passenger demand decreased by 75.6 per cent.

The Director-General, IATA, Willie Walsh, said, “2020 was a year that we would all like to forget. But analysing the performance statistics for the year reveals an amazing story of perseverance.

“At the depth of the crisis in April 2020, 66 per cent of the world’s commercial air transport fleet was grounded as governments closed borders or imposed strict quarantines. A million jobs disappeared, and industry losses for the year totaled $126bn.

“Many governments recognised aviation’s critical contributions and provided financial lifelines and other forms of support. But it was the rapid actions by airlines and the commitment of our people that saw the airline industry through the most difficult year in its history.”

SOURCE: PUNCH

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