Browsing: Africa’s aviation industry

The aviation industry in Africa is currently experiencing an upward growth trend and presents a positive financial outlook for African airlines in 2023 compared to 2022. Projections indicate that overall air traffic growth in Africa will exceed the global average of 6.1 per cent, reaching an impressive 7.4 per cent, with flights already surpassing pre-pandemic levels.

These revelations emerged during the recently concluded 7th Aviation African Summit & Exhibition, which took place on September 13th and 14th, 2023, in Abuja, Nigeria. This landmark event has been lauded as the most prominent summit, drawing nearly 1,500 delegates from over 75 countries and boasting more than 110 global exhibitors and sponsors.…

• Africa’s aviation industry lost a whopping $9 billion between 2019 and 2020.
• The Covid-19 pandemic shook the industry to the core, removing chronically inefficient but large commercial airline businesses from circulation in some countries.
• According to the World Travel and Tourism Council, the rate of commercial air transport increased by at least 23 percent in 2022 and is expected to jump by 9.5 percent this year. 

At the height of the Covid-19 pandemic, a number of African economies saw their airlines fly into near collapse even as others reduced their dependence on it to power certain segments of their economies. In many countries, policymakers picked up hard lessons on how some economies heavily relied on the aviation industry to source income for other sectors such as tourism.

Africa’s aviation industry experienced phenomenal passengers and freight traffic growth of between 45 percent and 80 percent from 2010-2015, giving a ray of …