Tunisair: passenger traffic down 42% in the first half of 2021
The situation is getting more complicated for Tunisair. After a catastrophic year in 2020 when it saw its revenues fall by at least two thirds, the company remains more than fragile in the midst of the unpredictability of the Covid-19 pandemic and its induced effects.
The Covid-19 pandemic continues to impact Tunisair's activities. The Tunisian national flag recorded a 42% drop in passenger traffic in the first half of the year. This is what emerges from the company's activity indicators, transmitted to the Tunis Stock Exchange on 19 July. From January to June, Tunisair carried 338,519 passengers against 579,471 year-on-year.
Over the same period, the freight activity has also experienced a 40% decline, from 1,762 tons transported in the first half of 2020 to 1,058 tons this year.
Logically, this underperformance has had an impact on the financial results. The Tunisian national airline's revenues have fallen from 259.338 million dinars (79 million EUR) in the first half of 2020 to 182.938 million (55 million EUR) in the same period in 2021, a drop of 29.45%.
On the personnel side, Tunisair continues to downsize. From 3510 employees on 30 June 2020, the company had only 3356, i.e. a reduction of 154 positions. However, its debt is still high, although it has fallen marginally. It was 989 million dinars (300 million EUR) on 30 June 2021.
The forecasts for the second half of the year are less bright for Tunisair as the country has been experiencing an unprecedented increase in the number of cases of Covid-19 infection (569,000 cases including 18,600 deaths as of 26 July). This exceptional situation has led to the suspension of air links with several countries, notably in Europe, the company's main tourist market. This has given Khaled Al-Chelly, who took over the reins of the company last March, a hard time, with the mission of turning it around.
