Passenger Revenue Increases in Africa as Air Peace, Others Introduce New Flight Connections
- A recent report suggested that the availability of seats has increased by 7%, indicating a prosperous period for the aviation sector in the continent
- This suggests that the industry has developed significantly, offering more route options and improved connectivity
- The unpredictability of the global jet A1 price means that fuel costs remain a problem for the aviation industry even with its rise
Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.
The African Airlines Association (AFRAA) has published its July 2024 performance report, which shows a 7% increase in seat availability and highlights a robust time for the continent's aviation industry.
Source: UGC
The industry has experienced significant development, more route alternatives, better connectivity, and an increase in both domestic and international travel demand, according to the association, in terms of passenger traffic and capacity expansion.
In July 2024, there were 17 million seats available across the African continent, a 7% increase from the same period in 2023.
Daily Sun reported that seat availability on intra-African flights increased by 3% as a result of new route debuts, network expansions, and fleet modernization initiatives.
While the Revenue Passenger Kilometers (RPKs), a measure of actual passenger traffic, increased by 1.3% during the same period, indicating a positive trend in passenger demand, the Available Seat Kilometers (ASKs) for July 2024 surged by 9% year-over-year, indicating a significant increase in capacity.
Passenger traffic to further increase
According to AFRAA, passenger traffic for African airlines is expected to increase by 15% in 2024 over the previous year.
In addition, the organization projects a balanced capacity split on international routes, with non-African carriers having 49.9% of the market share and African carriers accounting for 50.1%. On intercontinental flights, however, non-African carriers dominate with a 62.9 percent market share compared to 37.1% for African carriers.
Africa's aviation hub network is growing both in terms of income and connection, with major airports in Addis Ababa, Johannesburg, Lusaka, and Lomé witnessing notable increases in connectivity. Passenger revenue increased to US$1.66 billion in May 2024, a 4% rise from the previous month, as a result of this improved connectivity.
Despite the aviation industry's growth, fuel costs continue to pose issues due to the volatility of the global jet A1 price.
By the end of July 2024, the average price was $98.68 per barrel, which was 2.1% less than the week before.
According to the association, the African aviation sector is showing development and resilience, with encouraging trends seen in a number of important performance indicators.
To maintain this increasing trajectory, industry stakeholders must continue to overcome obstacles including volatility in gasoline prices.
Air Peace reacts to safety concern allegations
Legit.ng reported that Nigerian airline operator, Air Peace, has reacted to concerns about the safety of its passengers.
The airline spoke after the United Kingdom Civil Aviation Authority (UK CAA) wrote to the Nigerian Civil Aviation Authority (NCAA), alleging Air Peace allegedly violated some aviation safety regulations.
This came shortly after Legit.ng reported that Air Peace announced the commencement of ticket sales for its highly anticipated London flights.
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Source: Legit.ng
