Afriqiyah Airways Suffers Severe Financial Crisis Due to Coronavirus

0
389

Afriqiyah Airways, the Libyan state’s main airline alongside Libyan Airlines, announced that the company’s financial situation is deteriorating in light of the coronavirus crisis, noting that its total losses amounted to 79 million Libyan dinars.

On his part, Moez bin Ismail, director of the International Relations Office, stated that the company is suffering from accumulated debts estimated at more than 40 million dinars, pointing out that the decision to unify the exchange rate for foreign currencies was a major obstacle, especially with the company’s obligations before the decision was issued, which caused a state of confusion and higher value travel tickets and services.

Afriqiyah Airways was established in April 2001 by Decree No. (101/2001), which set its objectives in carrying out air transport operations for passengers, mail and goods inside and outside Libya. The airline has taken into account in its future plans to establish an international connection and to give priority to air transport investment, between the African continent and the world.

The company initially relied on Boeing 737-400 aircrafts, and in 2003 its fleet became dependent on leased Airbus aircrafts.