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March 2023 Sees 71.7% Surge in Passenger Traffic for African Airlines

News Summary:

  • African airlines experienced a 71.7% surge in passenger traffic in March 2023 compared to the previous year, with international passenger traffic growing by 68.9%.
  • The International Air Transport Association (IATA) reported strong demand growth for air travel in March 2023 across all regions.
  • However, challenges like labor shortages, supply chain issues, and flight cancellations due to job actions remain a concern for the industry.

In March 2023, African airlines experienced a 71.7% increase in passenger traffic compared to the same period last year, marking the second-highest growth among all regions. The airline capacity for the month also rose by 56.2%, and the load factor improved by 6.5 percentage points to 72.2%, despite being the lowest regional figure.

The International Air Transport Association (IATA) reported a robust demand growth for air travel in March 2023. Total global traffic, measured in revenue passenger kilometers (RPKs), climbed 52.4% compared to March 2022, bringing it to 88.0% of the March 2019 levels.

Domestic passenger traffic for March 2023 also saw a significant increase, growing 34.1% compared to the previous year. This puts the total domestic traffic for March 2023 at 98.9% of the levels seen in March 2019.

International passenger traffic in March 2023 recorded a 68.9% boost compared to March 2022, with all markets showing strong growth, particularly carriers in the Asia-Pacific region. International RPKs reached 81.6% of March 2019 levels, and the load factor surpassed the March 2019 level by 10.1 percentage points, standing at 81.3%.

IATA’s Director General, Willie Walsh, noted the promising indications for continued growth in both domestic and international travel into the peak Northern Hemisphere summer travel season.

In the Asia-Pacific region, airlines reported a 283.1% growth in traffic for March 2023 compared to March 2022, fueled by the lifting of travel restrictions in the region. European carriers reported a 38.5% rise in traffic, while Middle Eastern airlines saw a 43.1% increase compared to March 2022.

North American carriers recorded a 51.6% increase in traffic in March 2023 compared to the same period in 2022. Latin American airlines also experienced growth, with a 36.5% increase in traffic compared to March 2022.

However, Walsh highlighted some challenges, including labor shortages and supply chain issues affecting the aircraft manufacturing sector, leading to aircraft delivery delays. He also expressed concern over flight cancellations due to job actions by air traffic controllers and others, primarily in Europe, and urged authorities to address these issues.

The post March 2023 Sees 71.7% Surge in Passenger Traffic for African Airlines appeared first on Financial Watch.



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