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FINANCIAL NEWS
Libya’s Afriqiyah Airways revenue to improve in H2
24 Nov 2014
(MENAFN) Afriqiyah Airways, the state-owned Libyan carrier based in Tripoli, said that it has registered a slight increase in its revenue due to its operations beginning to stabilize despite the political unrest that it sweeping the country, Gulf News reported.
The North African airline, which shifted its operations to Mitiga International Airport from nearby Tripoli International, said that it is satisfied with its current passenger numbers and that it expects that its revenue will improve during the second half of this year.
The airline continues to fly to Turkey, Jordan, Egypt, Morocco, Nigeria and Sudan, though it is currently using only half of its fleet after the second half was damaged due to the fighting which has ensued in the country.
Afriqiyah said that it has finalized the insurance deal to repair the aircraft, which would start to return to service in early 2015, with expectations that the carrier will have its fleet fully operational by the end of next year.
The airline has also said that the drop in fuel prices has not resulted in the carrier saving any money due to oil prices in Libya remaining unchanged and that it does not expect to register any profit during this year because of the insurance bill for repairing its damaged planes.
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