Browsing: global airlines making profits

African airlines to make losses in 2023
  • African carriers will post a loss of $638 million in 2022 and narrow it to $213 million in 2023, the International Air Transport Association (IATA) has revealed 
  • The African region is expected to serve 86.3% of pre-crisis demand levels with 83.9% of pre-crisis capacity
  • Overall, the report noted that all regions’ financial performance continues to improve since the depth of the pandemic losses seen in 2020

The International Air Transport Association (IATA) has released new data indicating that African airlines will post a loss of $638 million in 2022 and narrow it to $213 million in 2023.

The report dubbed Economic Outlook & State of the Industry revealed that passenger demand growth of 27.4% in Africa is expected to outpace capacity growth of 21.9%. Further, IATA said that the region is expected to serve 86.3% of pre-crisis demand levels over the year with 83.9% of pre-crisis capacity.

Why African airlines