Kenyan Millionaires selling planes, suffering Covid-19 Pandemic

Wealthy Kenyans have begun selling their planes to survive the Covid-19 pandemic. The national police service has also suffered the scare and reported sales of planes since the wake of coronavirus. Kenya civil authority association (KCAA) in a statement says that privately owned planes dropped to 735 from 807, excluding those owned by the police service.

This elicited the reduced net-worth of the millionaires, and increased travels. Over 101 planes were auctioned last year, to cover parking fees across the country. 

The pandemic has caused a slump in air travel, with African airlines expected to have lost $6 billion in passenger revenue in 2020. “The airline business in Kenya is suffering and this means that people could not acquire more planes,” said Eutychus Waithaka, the executive secretary of the Kenya Association of Air Operators.

“We had requested a stimulus package from the government that we have not seen to date. Some airlines have actually closed shop because they were operating with leased planes,” he said.

Kenya in March last year confirmed the first Covid-19 that prompted the government to suspend domestic and international commercial passenger air travel.

Although domestic air travel resumed in July, followed by international routes a month later, demand has stayed below pre-pandemic levels.

Besides convenience, wealthy individuals have also acquired aircraft to satisfy their ambitions for reliable and personalised travel.

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