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Economy

Aviation, hospitality sectors seek Sh1trn funding

Five international air transport and tourism bodies have launched a Sh1.06 trillion ($10 billion) global financial appeal to cushion the sector from collapse.
Five international air transport and tourism bodies have launched a Sh1.06 trillion ($10 billion) global financial appeal to cushion the sector from collapse. PHOTO | COURTESY 

Five international air transport and tourism bodies have launched a Sh1.06 trillion ($10 billion) global financial appeal to cushion the sector from collapse.

International Air Transport Association (IATA) Director-General and chief executive officer Alexandre de Juniac reckoned that financial relief is critical investment in Africa’s post-pandemic future.

“But without a lifeline of funding to keep the travel and tourism sector alive, the economic devastation of Covid-19 could take Africa’s development back a decade or more,” Mr Juniac said.

This comes as Kenya’s aviation and tourism sectors ground their operations due to flight and tourism booking cancellations linked to the fight against Covid-19.

The request for funding is being made by the IATA, the United Nation World Tourism Organisation, the World Travel and Tourism Council, the African Airlines Association and the Airlines Association of Southern Africa.

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It targets airlines, hotels, guesthouses, lodges, restaurants and meeting venues most of which have since laid off or sent staff on unpaid leaves to cut costs.

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