August 16, 2017 IBOMLLC Team

Thanks to freights bound to Asia, Airlines in Africa are recording higher profit turnovers

Innov8tiv
Innov8tiv – Blacks In Technology in USA, UK, Caribbean Islands & Africa

According to a report tabled by the International Air Transport Association (IATA), African airlines have recorded higher freight volumes in the first half of this year. This growth is mainly attributed to the increasing trade between African countries with their Asian counterpart.

China comes top of the list of Asian countries doing business with Africa. Experts say trade between China and Africa has grown by almost 60% in the first half of this year.

IATA stats show that international air freight markets volume rose by 31.6%, while the capacity increase by 7.6%. The capacity improvement led to a freight growth by 25.9% in the first half of 2017.

IATA Director-General Alexandre de Juniac says in the Q1 of 2017, air cargo was skyrocketing thanks to a stronger global economy and the fact that the economy was rebounding from the 2010 global economic crisis. For the African airlines in specific, passenger traffic rose by 9.9% in the Q1, as capacity grew by 7.1 %. That led to a capital utilization marginal growth by 1.7% point to 64.3%.

The brighter global economic picture and lower air fares are keeping demand for …read more

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