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African international airlines on losing streak as China trips drop
…Dangote, W’Bank swell support to fight COVID-19 scare
Prolonging time of major cities lockdown in China has started taking tolls on the traffic of all African international airlines that make their huge profits from Africa-China traffic.
Otherwise, since the outbreak of n COVID-19 in China, the International Air Transport Association (IATA) says African airlines have lost over 200 million dollars, and this comes from suspended and cancelled flights, en-route to China.
This is as Aliko Dangote Foundation has voted N200m to stop the spread of the virus in Nigeria and by extension, support the federal government in curbing the Coronavirus outbreak.
Major continental airlines including South African Airways, Royal Air Moroc, Air Tanzania and Kenyan Airways have all suspended their flights. However, the continent’s largest Airline which is Ethiopian Airline is still operating flights to and from five cities in China.
Vice President of IATA says that the impact of the disease will only get worse for African Airlines which last year, posted losses of 100 million dollars.
Managing director and chief executive officer of the foundation, Ms Zouera Youssoufou, said that the foundation has given 124 million Naira for facilities to ensure national health security. Youssoufou also said that the foundation will also support the government on surveillance where facilities worth 36 million Naira will be provided, while N48 million will be used for training health workers, the foundation had also committed about N1 billion to fight the Ebola virus outbreak in Africa.
Aside, Dangote Foundation, the World Bank has also committed $12bn to assist countries struggling with the Corona Virus outbreak, the World Bank President says the poorest and most at risk countries will be prioritised in the distribution of the aid.
The emergency package includes low cost loans, grants and technical assistance to help countries improve on their public health response to the crisis as well as work with the private sector to reduce the impact of the Virus. And this comes as leaders around the world prepare to shield their countries from the economic impact of Covid-19.
Also due to the prevailing COVID-19 scare, the International Monetary Fund (IMF) and the World Bank as well, will not be convening in person in Washington for their spring meeting; instead it will be held in a virtual format.
The institutions spring meeting scheduled for April the 17th and the 19th, usually attracts over 10, 000 government officials, business people, civil society, representatives, journalists from across the globe and a tightly packed two block area of down town Washington.
Officials say that the IMF will still release an updated world economic forecast that will rightly include the downgrade of global output due to the outbreak of Coronavirus which has taken a heavy toll on air travel, manufacturing, tourism and just to mention a few other sectors across the globe.