A recent report released by the International Air Transport Association (IATA) unveils a significant 20.7% year-on-year increase in international passenger traffic for African airlines. This uptick, coupled with a 22.1% rise in capacity, marks a substantial advancement for the continent’s aviation sector, albeit with a slight decline in the load factor to 74.0% compared to February 2023.
This positive development aligns with the broader global trend of recovery in the airline industry, with total passenger traffic surpassing pre-pandemic levels by 5.7% in February 2024. Revenue Passenger-Kilometers (RPK) also experienced a notable 21.5% year-on-year increase, while passenger load factors (PLF) approached pre-pandemic levels, indicating a robust resurgence in air travel demand.
Willie Walsh, IATA’s Director General, expressed optimism regarding the industry’s prospects for 2024, attributing the encouraging momentum to accelerated investments in decarbonization and resilient passenger demand. However, Walsh cautioned against policymakers’ imposition of new taxes, particularly in Europe, which could potentially impede the industry’s recovery and escalate travel costs.
On the domestic front, African airlines witnessed a 13.7% growth over 2019 levels and a 15.0% year-on-year increase, driven by strong performances across major markets and heightened travel activities during the Lunar New Year period. Notably, domestic traffic in PR China surged to new highs, registering a remarkable 31.5% year-on-year increase.
In the international arena, African carriers experienced a 0.9% rise in traffic compared to February 2019, with annual growth reaching an impressive 26.3%. The Asia-Pacific region led in growth, with demand soaring by 53.2% year-on-year, followed by Latin American airlines with a 21.0% increase.
Despite lingering challenges such as fluctuations in ticket sales, overall ticket sales remained steady in March, indicating resilient demand for air travel. Despite these obstacles, the industry’s outlook remains positive, with ongoing investments in sustainability and robust passenger demand expected to drive growth in the years ahead.
Credit: Nairametrics (Text Excluding Headline)
