ADDIS ABABA, Ethiopia

Ethiopian Airlines lost $550 million because of international flight restrictions due to the COVID-19 pandemic, the company’s CEO said Tuesday.

Tewolde GebreMariam said the revenue loss has caused the national carrier to cut 90% of international flights.

“We are forced to fly to only 19 international destinations out of 110 destinations that the airline used to fly to pre-COVID 19 times,” local newsmaker Walta Information Center quoted Tewolde at a news conference. “Our cargo and maintenance services are doing well.”

The international aviation industry has lost $52 billion, with Africa losing $4.2 billion, he said.

The virus

Read more: COVID-19: Ethiopian Airlines reports $550M revenue loss