A new report published by the International Air Transport Association (IATA) reveals a remarkable 20.7% year-on-year increase in international passenger traffic for African airlines.
The surge in capacity, up by 22.1% year-on-year, has propelled the continent’s aviation sector to new heights, albeit with a slight decrease in the load factor to 74.0% compared to February 2023.
This growth is part of a broader trend of recovery in the global airline industry, with total passenger traffic surpassing pre-pandemic levels by 5.7% in February 2024.
Revenue Passenger-Kilometers (RPK) soared by 21.5% year-on-year, while passenger load factors (PLF) approached pre-pandemic levels, signaling a robust recovery in air travel demand.
Willie Walsh, IATA’s Director General, expressed optimism about the industry’s prospects for 2024, attributing the positive momentum to accelerated investments in decarbonization and resilient passenger demand.
However, Walsh cautioned against the imposition of new taxes by policymakers, particularly in Europe, which could potentially undermine the industry’s recovery and increase travel costs.
Recommended reading: Cost of operating airlines in Nigeria is one of the highest in Africa – IATA
What you should know
On the domestic front, African airlines witnessed a 13.7% growth over 2019 levels and a 15.0% increase year-on-year, 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, recording a remarkable 31.5% year-on-year increase.
In the international arena, African carriers saw a 0.9% increase in traffic compared to February 2019, with annual growth reaching an impressive 26.3%. The Asia-Pacific region led in terms of growth, with demand soaring by 53.2% year-on-year, followed by Latin American airlines with a 21.0% increase.
While the industry celebrates these milestones, challenges persist, including fluctuations in ticket sales following peak demand periods. However, overall ticket sales remained stable in March, indicating resilient demand for air travel.
Despite challenges, the outlook for the industry remains positive, with continued investments in sustainability and strong passenger demand driving growth in the years to come.