IATA Archives - Page 4 of 5

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

Posted on June 10, 2024June 10, 2024 by Wole Shadare

…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…

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

Posted on June 5, 2024 by Wole Shadare

….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…

Aviation industry revenue to reach historic $996 billion in 2024, says IATA

Posted on June 3, 2024 by Wole Shadare

…Expenses to grow to $936 billion in 2024 Wole Shadare, Dubai Aviation industry revenues are expected to reach a historic high of $996 billion in 2024, just as passenger revenues are expected to reach $744 billion in 2024, up 15.2% from $646 billion in 2023 according to the International Air Transport Association (IATA). It however expressed concern that industry profitability is fragile and could be affected positively or negatively by many factors such as global…

IATA lauds Nigeria for clearing foreign airlines’ over $700 million blocked funds

Posted on June 2, 2024 by Wole Shadare

…$19 million due to CBN on-going verification-Walsh Wole Shadare, Dubai, UAE The International Air Transport Association (IATA) said Nigeria has cleared 98 per cent of foreign airlines’ blocked funds, disclosing that the remaining two per cent of funds amounting to $19 million yet to be cleared is due to the Central Bank’s ongoing verification of outstanding forward claims filed by the commercial banks. It noted that as of April 2024, 98% of these funds have…

IATA: Africa records improved safety record, 2023 best-ever for global aviation

Posted on February 28, 2024 by Wole Shadare

African aviation received a major boost as the continent’s air safety recorded a significant improvement. The International Air Transport Association (IATA) in its 2023 Annual Safety Report for Global Aviation stated that the accident rate improved from 10.88 per million sectors in 2022 to 6.38 in 2023. The continent according to IATA posted a better safety record than the 5-year average of 7.11 with no fatalities, highlighting that Africa has had no passenger jet hull losses or fatal accidents since 2020. The…

NANTA, IATA in talks to stave off showdown over lower fare inventories

Posted on February 6, 2024February 6, 2024 by Wole Shadare

There are indications that foreign airlines operating to Nigeria are considering releasing cheaper ticket inventories following the release of the airlines’ trapped funds by the Central Bank of Nigeria (CBN). A top official of the National Association Nigerian Travel Agency (NANTA) who disclosed this to Aviation Metric said the group has held a strategic meeting with the International Air Transport Association (IATA) with a view to the airlines opening their lower ticket inventory for passengers from Nigeria….

Heightened attacks on GNSS pose safety risk, IATA, EASA urge pilots, crew to identify danger

Posted on January 26, 2024January 26, 2024 by Wole Shadare

The European Union Aviation Safety Agency (EASA) and the International Air Transport Association (IATA) announced the conclusions of a workshop jointly hosted at EASA’s headquarters to combat incidents of GNSS spoofing and jamming.The workshop’s high-level conclusion was that interference with satellite-based services that provide information on the precise position of an aircraft can pose significant challenges to aviation safety. Mitigating these risks requires short-, medium- and long-term measures, beginning with the sharing of incident information…

IATA: Air travel recovers fully, to surpass 2019 pre-Covid figure

Posted on January 10, 2024January 10, 2024 by Wole Shadare

Historic 4.7 billion people expected to travel in 2024 As predicted, international and domestic air travel have rebounded to pre-2019 COVID as air travel is closer to surpassing the 2019 figure according to the International Air Transport Association (IATA). The implication is that air travel has fully recovered with more people expected to take to air travel this year than ever for. IATA, in a data released for November 2023 air travel performance…

Oneworld becomes first airline alliance to join IATA Co2 Connect

Posted on December 19, 2023 by Wole Shadare

The International Air Transport Association (IATA) and the oneworld Alliance will work together in the field of CO2 emission calculations with all 13 oneworld member airlines committing to contributing operational data to IATA’s CO2 Connect emissions calculator. This will further improve the quality and accuracy of the tool, as the percentage of airline-specific fuel burn data used by the calculator will substantially increase, with the data provided by the following oneworld member airlines: Alaska Airlines, American Airlines, British…

IATA: 25% loan interest, airlines’ insurance premium in Nigeria highest in the world

Posted on December 7, 2023 by Wole Shadare

Nigerian airlines set up to fail from start Why carriers are not profitable Wole Shadare, Geneva, Switzerland The International Air Transport Association (IATA) said that 25% interest on loans which it tagged ‘ridiculous’, high airport taxes and insurance premiums which it said is six times more than anywhere in the world would do incalculable damage to aviation in Nigeria. IATA’s Regional Vice President Africa & Middle East, Kamil Al-Awadhi at a media presentation with African journalists…

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