African air transportation to be 350 million passengers marketStaff Writer |
Africa African carriers are forecast to lose $1.50 per passenger
The International Air Transport Association (IATA) forecasts Africa will be a market of 350 million airline passengers by 2035.
Over the next 20 years passenger demand is set to expand by an average of 5.7% annually. This opens up incredible economic opportunities for the continent’s 54 nations.
"Globally, the average profit per passenger in 2017 will be about $7.69. In contrast, African carriers are forecast to lose $1.50 per passenger," said Muhammad Ali Albakri, IATA’s regional vice president for the Middle East & Africa.
"Last year, sub-Saharan Africa had its best performance in 10 years with no passenger fatalities or jet hull losses. This is a great achievement, but there is still much work to be done," said Al Bakri.
"The value of Intra-Africa connectivity cannot be stressed enough, it is invaluable in promoting and supporting the continent’s growth. Implementation of Africa’s visionary framework for enhancing connectivity across the continent, as envisaged in the Yamoussoukro Declaration, has been slow. This needs to change," said Al Bakri.
"Many of the countries with blocked funds are undergoing significant economic challenges.
"But blocking airlines’ funds is not the answer. Airlines are powerful economic enablers and if they cannot recover revenues which are essential to covering their costs they will be unable to provide the connectivity that is vital for countries’ economic growth," explained Al Bakri. ■
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