African airlines continue to rack up losses – Bloomberg – RT Africa

Figures show the collapse of industry on the continent lasted more than a decade

Airlines in Africa haven’t made money in more than a decade, Bloomberg reported on Wednesday.

The civil aviation industry on the continent last made a profit in 2010, the newspaper said, citing data from the International Air Transport Association (IATA) and its own calculations.

The report follows statistics released by IATA last week, which suggest that African carriers suffered cumulative losses of $3.5 billion in 2020-2022, in the era of the COVID-19 pandemic and global travel restrictions. Further losses of $213 million for the current year were also forecast.

High operating costs, including aviation fuel and energy, regulatory hurdles, slow adoption of global standards, and shortage of trained personnel were cited as major factors affecting airline performance African airlines.

The figures were released at the same time as IATA launched a focus africa initiative to support the aviation sector on the continent.

According to the independent aviation information website, kerosene is 12% more expensive in Africa than in other regions because only very small quantities are refined on the continent and transport costs are high. . Kerosene accounts for more than 30% of African carriers’ spending, according to the outlet.

IATA said last week it expects air travel in Africa to fully recover from the pandemic in 2024, with passenger travel already at 93% of 2019 levels.

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