Finance, Taxes, Insurance
African Carriers Set for More Losses in 2016, Says IATA
Weak commodity prices, conflict and an unfriendly regulatory environment are all hurting African airlines.
IATA's chief economist Brian Pearce said that 2016 will be another challenging year for air transport in Africa. [Photo: Kaleyesus Bekele]
IATA's chief economist Brian Pearce said that 2016 will be another challenging year for air transport in Africa. [Photo: Kaleyesus Bekele]

African airlines are facing another year in the red, with the International Air Transport Association (IATA) predicting collective losses of approximately $100 million for 2016. This follows loss estimates of some $300 million for African carriers in 2015, according to the organization’s recently revised industry outlook, in which it projected that globally the world’s airlines are set to register around $33 billion in net profits for the year now closing.


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