IATA Archives - Page 5 of 5

Aviation revenue to hit $964 billion, African airlines to post $0.5b losses in 2024

Posted on December 6, 2023December 6, 2023 by Wole Shadare

Infrastructure, connectivity impact region’s industry performance Wole Shadare, Geneva, Switzerland Having recovered from the 2020 Covid pandemic that did incalculable damage to the global aviation industry, industry revenues are expected to reach a historic high of $964 billion according to the International Air Transport Association (IATA). While other regions in the world are expected to post profits in 2024, African carriers are expected to generate losses in both 2023 and 2024. The continent according to…

Demand for air cargo for African airlines up 2.9%, says IATA

Posted on December 5, 2023 by Wole Shadare

African airlines saw their air cargo volumes increase by 2.9% in October 2023, much improved compared to September’s performance (-0.1%). Carriers in the region benefitted from the strongest annual growth since May (+16.7%). Capacity was 9.8% above the October 2022 levels. This is contained in the International Air Transport Association (IATA) released data for October 2023 global air cargo markets indicating the third consecutive month of stronger year-on-year demand. Global demand, measured in cargo tonne-kilometres (CTKs*),…

How $1.68 billion airlines’ trapped funds, high cost, infrastructure set aviation in Africa backward- IATA

Posted on November 20, 2023November 20, 2023 by Wole Shadare

Foreign airlines’ trapped funds in Africa hit a record $1.68 billion by the end of September 2023 according to the International Air Transport Association (IATA). The funds are held by countries experiencing foreign exchange reserves. The countries are Ghana, Nigeria, Ethiopia, Angola and Zimbabwe. IATA attributed trapped funds as one of the major issues plaguing aviation in Africa, describing the numbers as alarming with it having a huge and devastating impact on connectivity. IATA’s Regional…

Travellers prioritise speed, convenience in IATA’s global passenger survey

Posted on October 25, 2023 by Wole Shadare

The International Air Transport Association (IATA) announced the results of its 2023 Global Passenger Survey (GPS), showing that travelers continue to prioritize speed and convenience and are increasingly embracing biometrics and off-airport processes to deliver it. “Passengers have made it clear: they want to spend less time booking and move through the airport faster. And they are increasingly willing to use biometric data to complete more pre-departure tasks off airport to achieve this,” said Nick…

IATA says Nigeria’s aviation needs help, laments access to Forex

Posted on October 19, 2023October 19, 2023 by Wole Shadare

Aviation runs on dollar-Fatokun The International Air Transport Association (IATA) has called for urgent assistance for the country’s aviation, stressing that the entire aviation value needs help to stay afloat and be profitable. This was the view of IATA’s Area Manager, West and Central Africa, Dr. Samson Fatokun when the group presented the IATA certificate of membership to United Nigeria Airlines that has been showing promise since the carrier was set up on February 12,…

United Nigeria Airlines joins IATA

Posted on October 10, 2023 by Wole Shadare

Nigerian carrier, United Nigeria Airlines Company Limited, has been admitted as a member of the global aviation body, the International Air Transport Association (IATA). The airlines’ admittance into IATA was conveyed to the management of United Nigeria Airlines in a letter dated October 9, 2023, and addressed to Prof. Obiora Okonkwo, chairman and chief executive of the company. The letter signed by William Walsh, IATA Director General, it said the group was happy to welcome…

Africa airlines post weakest performance, cargo volume declines 4.7% in August-IATA

Posted on October 3, 2023October 3, 2023 by Wole Shadare

Air cargo demand up 1.5% in August African airlines had the weakest performance in August 2023, with a 4.7% decline in cargo volumes compared to August 2022. This was a significant decrease in performance compared to July (+2.3%). In the same vein, Africa–Asia routes declined by 1.1% in August following an 11.2% growth in July with a capacity 3.8% above the August 2022 level. These are the data released by the International Air Transport Association…

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