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AFRAA sees a 15% rise in passenger traffic for African carriers in 2024 AFRAA sees a 15% rise in passenger traffic for African carriers in 2024

The African Airlines Association (AFRAA) has released a report on African Airlines’ Performance Updates for May 2024. According to the report, AFRAA projects a “15% rise in passenger traffic for African carriers in 2024 compared to 2023.”

According to AFRAA, “The aviation industry experienced a dynamic start to 2024, grappling with a multitude of challenges and opportunities. Despite ongoing post-pandemic hurdles, the airline sector sustained its recovery momentum this year, witnessing a resurgence in passenger demand.”

AFRAA says: “Africa witnessed a 6% increase in available seats, rising from 15.1 million in May 2023 to 15.9 million in May 2024, attributed to by the introduction of new routes and increased flight frequencies. During the same period, ASKs (Available Seat Kilometers) surpassed May 2023 levels by 12%.”

African carriers accounted for 48.7% of the international capacity and 35.4% of the intercontinental capacity.

Regarding capacity allocation between African and non-African operators on International routes (regional and intercontinental), AFRAA estimates “a split of 51.3% and 48.7%, respectively. However, in regards to intercontinental routes, Africa accounts for only 35.4% of capacity, with non-African operators holding the majority share at 64.6%.”

The report reveals that in this season, “intra-Africa connectivity surged across regions, with major hubs such as Addis Ababa, Nairobi, Abidjan, and Lome witnessing a notable uptick in connectivity.”

Also, “African airlines are experiencing enhanced revenue performance, following the growth in traffic. AFRAA’s estimate shows operating revenue for March 2024 at US$1.74 billion, a significant increase from US$1.39 billion in March 2023, marking a 26% growth.”

On the global price of Jet A1 which continues to fluctuate from week to week, “the global average jet A1 price ended the week of 24th  May 2024 down 0.7% at $99.85/bbl.”

Source: Aviation and Allied Business Journal