 |
| Kenya Airways plane takes off at the Jomo Kenyatta International Airport (JKIA) in Nairobi |
AFRAA estimates a 15 per cent growth in passenger traffic for African airlines this year compared to 2023.
The aviation lobby predicts a capacity split of 50.1 per cent on international routes for African carriers and 49.9 per cent for non-African airlines.
On intercontinental routes, Africa holds 37.1 per cent of the capacity, with non-African carriers dominating 62.9 per cent.
“Connectivity within Africa continues to expand, with major hubs like Addis Ababa, Johannesburg, Lusaka and Lomé experiencing significant increases in connections. African airlines are reporting improved passenger revenue, reflecting the overall traffic growth,” noted AFRAA.
AFRAA data indicated that passenger revenue in May 2024 reached $1.66 billion (Sh214 billion), up by four per cent from $1.59 billion (Sh205 billion) in April 2023.
The global price of Jet A1 continues to fluctuate from week to week.
The global average jet A1 price ended the week of July 26th, 2024, down 2.1 per cent at $98.68 (Sh12,470).
In its effort to enhance economic integration and regulatory harmonisation, the Comesa-EAC-SADC Tripartite Free Trade Area agreement came into effect on July 25, 2024.
The recent suspension of a proposed 800 per cent increase in navigation charges by the Nigerian Airspace Management Agency reflects the Nigerian government’s commitment to economic stability and public consultation before policy implementation.
This move is in line with ensuring affordability and operational viability in Nigeria’s aviation sector. Uganda’s collaboration with the UAE to develop a third international airport near Kidepo National Park exemplifies strategic infrastructure enhancement to boost connectivity and economic growth in the region.
The National Bank of Ethiopia’s introduction of the foreign exchange directive on forex marks a significant shift towards a market-based foreign exchange rate system, aimed at increasing financial predictability and operational flexibility for businesses.
By Philip Mwakio