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Astral Aviation Reviews Planned Hubs in Lagos and Johannesburg

Astral Aviation CEO Sanjeev Gadhia said the airline postponed plans to establish regional hubs in Johannesburg and Lagos due to market conditions.

Astral Aviation is a cargo airline based in Nairobi, Kenya. It was established in November 2000 and started operations in January 2001. Photo Credit: Loadstar.co.uk

Mr Gadhia said the carrier will reconsider Lagos due to decreased oil prices and noted weakened imports to South Africa due to currency depreciation.

Nigeria, Africa’s largest economy has suffered a decline in its finances due to the oil price crash that sees crude oil hovering between $45US and $53US. The South Africa’s currency, the Rand has slipped as a sharp fall in Chinese imports increased concerns over the shape of the global economy, denting the appeal of emerging market assets.

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