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Air Algerie Incurs USD130 Million Loss Due to COVID-19

Air Algerie Incurs USD130 Million Loss Due to COVID-19

Sunday, 19 July, 2020 - 09:15
An Air Algerie Boeing 737-8b6 plane is seen on the tarmac at the Lyon-Saint-Exupery airport in Colombier-Saugnieu near Lyon, France, March 14, 2019. REUTERS/Emmanuel Foudrot/Files

Algerian Finance Minister Ayman bin Abdul Rahman said that Air Algerie has incurred losses estimated at USD130 million due to the suspension of flights during the coronavirus pandemic.

During a meeting on evaluating the consequences of the pandemic and its impact on the economy, chaired by Algerian Prime Minister Abdulaziz Jarad, Bin Abdul Rahman said that maritime transport losses have exceeded USD700,000.

He further announced allocating more than USD500 million to fight the pandemic.

Jarad noted that the country was undergoing a tragic and unprecedented economic condition ensuing from the structural crisis by former governments, the collapse of oil price, and the impact of the novel coronavirus.

He affirmed that Algerian President Abdelmadjid Tebboune was committed to backing the affected institutions, whether public or private. In addition, he noted that the precautionary measures have struck various economic sectors mainly commerce, hospitality, and construction.

Jarad called for an objective assessment of COVID-10 repercussions, noting that the economic and social revival would occur through establishing balanced institutions and achieving a purchasing power for households to support the economic dynamic.

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