Booming demand lifts African airlines back to profit for second straight year
AFRICAN airlines have returned to profit on booming demand which will further shore up their earnings in 2024, according to the International Air Transport Association. Profit per passenger is expected to be nearly double the 2023 figure. However, the projected US$100 million profit, equating to 90 cents per passenger, is in stark contrast to the global average of US$6.14, underscoring the tenuous nature of this rebound, according to the trade association of the world's airlines. Kamil Alawadhi, IATA’s Regional Vice President for Africa and the Middle East, emphasized the dual nature of this financial outlook. “Africa’s airlines are making a…