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Camair-Co recorded over XAF6 bln of revenue shortfalls in H1-2020 because of coronavirus pandemic

Camair-Co recorded over XAF6 bln of revenue shortfalls in H1-2020 because of coronavirus pandemic
  • Comments   -   Friday, 23 October 2020 14:01

(Business in Cameroon) - Camair-Co recorded about XAF6 billion of revenue shortfalls in H1-2020, according to an internal document Business in Cameroon had access to. The state-owned airline explains that this was due to the coronavirus pandemic (whose first case was confirmed in Cameroon on March 6, 2020), which forced the country to take restrictive measures on March 17, 2020. The measures greatly affected the transport industry, the airline indicates.  

Officially, the coronavirus health crisis (and the restrictive measures) caused a drastic drop in Camari-Co’s productivity (-68%), traffic (-75%), and turnover (-55%).  

Out of the XAF6 billion revenue shortfall, XAF4.6 billion represents the shortfalls caused by traffic reduction, Camair-Co estimates. Also, the company claims to have been affected by the postponement of the 2020 African Nations Championship (now scheduled for Jannaury-February 2021) due to the pandemic.

Overall, even if the coronavirus pandemic greatly contributed to the shortfall during the period, it could not be the only reason. Indeed, even before the confirmation of the first coronavirus case in Cameroon, the airline was already having great trouble ensuring its scheduled flights because of the reduction of its fleet and important financial difficulties.

Brice R. Mbodiam

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