The latest Gross Domestic Product report released by the National Bureau of Statistics has shown that air transport under the transportation and storage sector recorded a 38.86 per cent decline in the third quarter of 2020.
The subsector contracted by 57.38 per cent in the second quarter of the year and by 15.23 per cent in the second quarter of 2019.
The transportation and storage sector comprising road transport, rail transport and pipelines, water transport, air transport, and transport services experienced a growth of -35.06 per cent in nominal terms (year-on-year).
However, the report noted that the growth rate in Q3 was slightly better than the preceding quarter which saw a contraction of -41.63 per cent.
In real terms, the transportation and storage sector contracted by -42.98 per cent in Q3 2020, a slightly better performance than the preceding quarter when it recorded -49.23 per cent.
Quarter on quarter, growth was 25.81 per cent.
The report explained that all activities under transport and the storage industry recorded negative growth except for post and courier services.
“All activities under the transport and storage industry recorded negative growth rates except post and courier services. Quarter on quarter, growth stood at 29.69 per cent.
“Transport activities contributed 1.28 per cent to nominal GDP in Q3 2020, a decline from the 2.03 per cent recorded in the corresponding period of 2019, but higher than 1.13 per cent recorded in the second quarter of 2020,” the report said.
The impact of the COVID-19 pandemic has been harsh on the aviation sector, leading to pay cuts and job losses.
Over 70 pilots were sacked by Air Peace while Bristow Helicopters fired over 100 pilots and engineers in the first half of the year.
Similarly, 10 workers, including six pilots, were sacked by Azman Air on November 7.
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