The African Airlines Association’s (AFRAA) airline performance update anticipates that African airlines could fly up to 98 million passengers by the end of 2024 – up 15% from 2023.
“Despite ongoing post-pandemic hurdles, the airline sector sustained its recovery momentum this year, witnessing a resurgence in passenger demand… signifying a strong recovery for the industry,” AFRAA said in its May 2024 performance update.
AFRAA reports that the strategic introduction of new routes and the increase in flight frequencies have significantly bolstered the capacity of the continent’s carriers, leading to a notable 6% increase in available seats.
Not only did available seats climb from 15,1 million in May 2023 to 15,9 million in May 2024, but available seat kilometres (ASK) during the same period surpassed May 2023 levels by 12%.
Similarly, IATA’s Airline Profitability Outlook for 2024 projected a 9,1% increase in African airline capacity in 2024, outpacing the 8,5% growth in demand.
Furthermore, AFRAA shows operating revenue for March 2024 at US$1,74 billion (R31,52 billion), marking a 26% increase from $1,39 billion (R25,18 billion) in March 2023.
AFRAA attributes the increase in revenue to traffic growth, seen by the increases in passenger traffic and available seats.
