The International Air Transport Association (IATA) expects its members to lose US$700 million in their operations in Africa due to a decline in air travel on the continent as the global financial crunch bites.
The sum, which is a part of a projected US$5.2 billion airlines loss globally, will make Africa the most unprofitable place to run an airline.
The African airline industry has recently registered -1.9% passenger drop and -6.6% for cargo.
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