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AVIATION: Nigeria suffers $200m loss in 2016, as Africa faces bleak future
Poor capital base and dwindling economy have combined to set Africa’s aviation industry backwards, even as Nigeria is said to have suffered $209m loss in 2016 alone.
The International Air Transport Association (IATA), which disclosed this is in its latest focus on the global aviation performance in the past five years with, special emphasis on major African countries, said there is urgent need for policy initiatives to change the situation from getting worse.
It stated that dearth of pilots and poor revenue have not helped operators in the industry to elevate the continent to an appreciable level.
Though it acknowledged that African airlines remain in the red, the state of their financial affairs had, at least, not deteriorated worse than what it was in 2016.
Read also: True to prediction, CBN retains double digit interest rate
IATA stated that already 2017 had recorded some losses, but is projected, according to it, to post a $100m loss by the end of the year under review.
At the same time passenger demand in Africa’s aviation industry is expected to grow by 7.5 per cent, which is slightly behind the expected capacity growth of 7.9 per cent.
The international agency further said that 2017 outlook shows a slight increase of 3.2 per cent for pilots over the 2016 outlook and a slight decrease in the need for airline maintenance technicians .
IATA, quoting Boeing’s 2017 Pilot and Technician Outlook, projected that in the next 20 years, Africa will need about 24,000 new pilots, 23 000 new technicians and 28 000 new cabin crew in its aviation industry.
It said: “The global total demand for new pilots and technicians to support the world’s growing commercial airplane fleet is projected to be 1.2 million by 2036.
“Boeing forecasts that between 2017 and 2036, the world’s commercial aviation industry will require approximately 637 000 new commercial airline pilots, 648 000 new commercial airline maintenance technicians and 839 000 new cabin crew
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