A report by the International Air Transport Association (IATA) indicates that Africa’s aviation sector will trim its net losses to 700 million dollars this year, from 1.1 billion dollars recorded in 2021.
According to IATA’s Director General Willie Walsh, revenues are rising as COVID-19 restrictions ease and people return to travel.
“Airlines are resilient. People are flying in ever greater numbers. And cargo is performing well against a backdrop of growing economic uncertainty. Losses will be cut to $9.7 billion this year and profitability is on the horizon for 2023. It is a time for optimism, even if there are still challenges on costs, particularly fuel, and some lingering restrictions in a few key markets,” said Walsh.
Africa however has the least percentage of a fully vaccinated population at 15.2 percent, compared to 63.3percent in Europe, America’s 68.8percent, Western Pacific at 83.7percent, South East Asia’s 64.5percent and Eastern Mediterranean at 43.9percent.
IATA estimates that this year’s industry revenue Industry will reach $782 billion marked at 54.5 percent increase from last year’s revenue.
Operated flight will increase to 33.8 million equivalents to 86.9 percent of pre-covid levels in 2019 when there were 38.9 million flights.
Passenger revenues will amount to $498 billion from 3.8 billion passengers scheduled to travel this year, with revenue passenger kilometers growing 97.6% compared with 2021.
A newsmaker, reporter and anchor at Pearl Radio, Ndalilah Sharon is witty and savvy.
She is also a firm believer of Christ.