Browsing: International Civil Aviation Organization (ICAO)

7th Africa Aviation Summit held in AbujaNigeria.Photo Times Aerospsace

Taking the lead: Africa’s aviation industry growth potential

Industry and Trade

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.…

Kenya Airways remains in the red as loss hits historic USD290.8 million

Aviation
  • Total operating costs during the year under review increased to USD930.1 million (Ksh122.4 billion) from USD585.3 million (Ksh77.02 billion).
  • This ate into gains made in revenue as total income grew to USD887.5 million (Ksh116.8 billion), from USD533.4 million (Ksh70.2 billion).
  • African carriers are expected to post a loss of USD638 million in 2022, narrowing to a loss of USD213 million in 2023, according to IATA.

Kenya’s flag carrier-Kenya Airways has posted the worst loss ever as high operating costs wiped out gains made in revenues last year, as the aviation industry slowly picked from the impact of the Covid-19 pandemic.

The carrier’s has reported a USD290.8 million (Ksh38.26 billion) loss for the year ended December 2022, which is a dip from USD120.6 million (Ksh15.87 billion) posted in a similar period in 2021.

Total operating costs during the year under review increased to USD930.1 million (Ksh122.4 billion) from USD585.3 million (Ksh77.02 …