Thursday, June 14, 2012

● IATA: Strong growth for Africa in 2011/2012 but lower profits; The winners & losers so far.

The International Air Transport Association (IATA), which represents some 240 airlines worldwide and comprising 84% of total air traffic, has released its annual statistics for the year 2011/2012, with Africa showing very strong growth in terms of actual passengers carried, as well as freight tonnage hauled, in stark contrast to crisis ridden Europe, which has struggled some what.

IATA Global Results
Looking at the chart, Africa has registered a 10.1% increase in actual passenger traffic, with actual cargo carried showing a more modest growth figure of just 4.2%.

With the exception of the Middle East, whose figures dramatically outstripped everyone else's most likely due to a recovery in tourist confidence following the turbulent events of last year's Arab Spring, Africa has faired remarkably well.

Some of the winners thus far:
The losers:
Overall, the greatest problems this last Financial Year have been primarily the high price of oil and consequently, Jet A1, followed by The Eurozone Crisis; less €€€ in Europeans' pockets, means less flights abroad, means less $$$ for both Airlines and African economies as a whole. Lastly, and this perhaps is a localized issue, The Arab Spring of 2011 which, in Syria, is still making itself felt, with many regional carriers like Egyptair (whose profits fell 75% on 2011) and Royal Jordanian.