IATA

Record 5.2 billion people to take to air travel, airlines’ revenue to hit $1 trillion in 2025-IATA

Posted on by Wole Shadare
Record 5.2 billion people to take to air travel, airlines’ revenue to hit $1 trillion in 2025-IATA

The International Air Transport Association (IATA) has announced its financial outlook for the global airline industry in 2025, with the group saying that total industry revenues are expected to be $1.007 trillion, representing an increase of 4.4% from 2024. This is the first time according to IATA that the industry revenues top the $1 trillion mark, while expenses are expected to grow by 4.0% to $940 billion. According to a paper presented by the IATA…

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IATA: Nigeria maintains clean record, owes no foreign airline

Posted on by Wole Shadare
IATA: Nigeria maintains clean record, owes no foreign airline

Blocked airline funds drop to $1.7b   Nigeria has continued to retain its clean record by continuously missing from the infamous black book of airlines in which funds were trapped in the country. Since July, no airline has had its funds trapped in Nigeria as over $800 million of airlines’ money trapped had been paid. IATA maintain the position today stressing that nine countries account for 83 per cent of the airline industry’s blocked funds, which…

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IATA: Africa improves air safety record amid high taxes, poor infrastructure, others 

Posted on by Wole Shadare
IATA: Africa improves air safety record amid high taxes, poor infrastructure, others 

    The Director-General of the International Air Transport Association (IATA), Willie Walsh expressed satisfaction with the progress African airlines have made in safety, stressing that the continent has made significant safety improvements. This is coming as the IATA chief admitted that the continent’s carriers are faced with enormous challenges, including high costs and taxes, jet fuel prices which he said are about the highest in the world, low safety standards and airport infrastructure that needs…

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IATA to Offer Digital Currencies in Financial Settlement Systems

Posted on by Wole Shadare
IATA to Offer Digital Currencies in Financial Settlement Systems

The International Air Transport Association (IATA) announced that it will offer digital currencies in the financial settlement systems it operates for the aviation industry. “Digitalization impacts many aspects of our daily lives, including the currency we use. With the increasing use of digital currencies, IATA’s industry financial settlement systems must adapt to support the needs of those using our services,” said Muhammad Albakri, IATA’s Senior Vice President for Financial Settlement and Distribution Services. The first…

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Lagos Aviation Academy Wins Fifth IATA Best Performer Title

Posted on by Wole Shadare
Lagos Aviation Academy Wins Fifth IATA Best Performer Title

Lagos Aviation Academy (LAA), a leading aviation training organisation in Nigeria, is proud to announce that one of its students has emerged as the ‘IATA Best Performer in Nigeria’ in the IATA Foundation in travel and tourism exam for July 2024. This achievement marks the fifth time that the academy has produced the top-performing student, solidifying its position as a centre of excellence in aviation training. Speaking to journalists at the academy’s new location in…

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IATA: Africa’s 16.9% air travel demand up 16.9%, tops world’s best load factor 

Posted on by Wole Shadare
IATA: Africa’s 16.9% air travel demand up 16.9%, tops world’s best load factor 

The demand for air travel in Africa rose by 16.9% in June, while capacity was up 5.8% year-on-year, making the continent’s air travel world’s best-improved load factor according to the International Air Transport Association (IATA) which released data for June 2024 global passenger demand. The load factor rose to 77.0% (+7.4ppt compared to June 2023). This was the largest improvement in load factor among all regions.  While total demand, measured in revenue passenger kilometres (RPK), was up 9.1% compared to June…

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IT outage: IATA sympathises with travellers over disruption, United issues waiver for travel dates

Posted on by Wole Shadare
IT outage: IATA sympathises with travellers over disruption, United issues waiver for travel dates

The International Air Transport Association (IATA) has expressed its sympathy to travellers who face disruption because of the massive IT outage that has grounded many airlines in the world and impacted business around the globe. IATA in a statement to Aviation Metric  said, “Air transport is among the many industries affected by today’s worldwide IT issues with Microsoft and Crowdstrike.” “We sympathize with travellers who face disruption because of these issues which are outside of…

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IATA: African airlines must overcome high costs, taxation, decrepit infrastructure, others, profit razor-thin

Posted on by Wole Shadare
IATA: African airlines must overcome high costs, taxation, decrepit infrastructure, others, profit razor-thin

Carriers struggle with losses, challenges surmountable      The International Air Transport Association (IATA) said the African airline sector must overcome many challenges, not least of which are infrastructure deficiencies, high costs, onerous taxation, and the failure to broadly implement a continent-wide multilateral traffic rights regime. IATA is excited about the continent’s airlines making a collective profit but the bad news is that it is razor-thin and well below the global benchmark with many individual…

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IATA: Nigerian carriers can’t compete with poor infrastructure, high operational costs 

Posted on by Wole Shadare
IATA: Nigerian carriers can’t compete with poor infrastructure, high operational costs 

…Says govt clued, understands value of aviation to growth The International Air Transport Association (IATA) has maintained that Nigeria’s two biggest airports, the Murtala Muhammed Airport, Lagos and the Nnamdi Azikiwe International Airport, Abuja boast the record of aerodromes with the highest cost operation for airlines. The Vice-President IATA for Africa and Middle-East, Kamil Al-Awadhi who spoke to Aviation Metric at the just concluded IATA 80th Annual General Meeting and World Air Transport Summit in Dubai, United Arab Emirates (UAE), said this is made…

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How foreign airlines lost over 50% trapped funds to Africa’s currency devaluation

Posted on by Wole Shadare
How foreign airlines lost over 50% trapped funds to Africa’s currency devaluation

  ….Continent’s carriers worst hit, says IATA Nigeria and other African countries may have been given a clean bill of health over the payment of foreign airlines’ trapped fund, but the International Air Transport Association (IATA) said only about 50% per cent of the entire value of its fund was lost to the devaluation of currencies of most African nations since 2022 when these funds started piling up. IATA’s Regional Vice-President of Africa and Middle…

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