International Air Transport Association (IATA) has announced African airlines are expected to report a net loss of USD 300 million in 2019, lower than USD 400 million net loss registered in 2018, the association said.
The expected net loss per passenger is USD 3.51 making Africa the weakest region globally.
Globally, the aviation body has projected global airline industry to earn about USD 35.5 billion as net profit next year. This is more than USD 32.3 billion earned in 2018.
The growth is attributed to the reduction in oil prices and solid, albeit slower, economic growth of about 3.1 percent.