National carrier Tunisair has been hardly hit by the COVID-19 pandemic. In 2020, turnover fell by 70% to 483.1 million dinars, against 1.6 billion dinars in 2019, posting a decline of 1.1 billion dinars.
This sharp decline is the result of the drop in the number of passengers (all activities combined) by 71% from 3.4 million in 2019 to 997 thousand passengers at the end of last December.
The load factor thus fell to 66.5% against 75.5% in 2019.
In addition, expenditure on fuel went down 300 million dinars (-75%) to 101.4 million dinars at the end of December 2020. While personnel costs decreased by 16% to 200 million dinars, compared to 238 million in 2019.
As for outstanding debt, it fell from 1.05 billion dinars at the end of December 2019 to 967 million dinars at the same date in 2020, down 8%.
Nevertheless, financial charges have decreased by nearly 23 million dinars to 5.5 million at the end of December last year.