Iran war hurts African airlines [Yahoo! Finance]
DEUTSCHE LUFTHANSA S/ADR (DLAKY)
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Source: Yahoo! Finance
The war in the Middle East is hitting African airlines, some of which are already reporting losses over flight cancellations and rising operational costs. Ethiopian Airlines, the continent's largest carrier, said it incurred a $137 million loss in a single week, Business Insider reported. The state-owned airline has suspended flights to 10 destinations in the region this month. Other African carriers like Kenya Airways, Air Tanzania, and RwandAir could experience similar operational setbacks in the coming weeks, including disruption to the price of aviation fuel as oil costs rise. The shortfall is prompting some international carriers to add services to Asia and Africa which bypass Middle East hubs: Germany's Lufthansa said it is offering several extra flights, including two between Frankfurt and Cape Town, citing rising demand for “ long-haul flights at short notice .” — Alexander Onukwue Recommended Stories
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