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By Chinelo Obogo
African Airlines’ Association (AFRAA) has projected an $800 million loss for African airlines in the last quarter of 2022. In a recently released report, the association estimated revenue loss for 2022 to be $3.5 billion, equivalent to 20 percent of 2019 full year revenue.
However, November traffic and airlines capacity deployed reached 85.7 percent and 84.2percent of the 2019 level respectively, while domestic market share is now at 34.3percent capacity and 34.3 percent of passengers carried. Intra-Africa passengers carried represented 30.9 percent and corresponding capacity at 24.8 percent.
“We estimate revenue loss for 2022 to be $3.5 billion, equivalent to 20 percent of 2019 full year revenue. The projected revenue loss for the fourth quarter of 2022 is approximately $800 million. “In terms of capacity, this November traffic and airlines capacity deployed reached 85.7 percent and 84.2percent of the 2019 level respectively. Domestic market share is now at 34.3 percent capacity and 34.3percentof passengers carried while intra-Africa passengers carried represented 30.9percent and corresponding capacity at 24.8percent.
“Intercontinental traffic this month is 34.2 percent and capacity 34.8percent. African airlines operations on international routes have now exceeded 2019 pre-COVID-19 level by 2.28 percent and seven African airlines have exceeded the number of international routes they operated before COVID-19. “Jet A1 price continues the upward trend.
Year to date, global average price per barrel is $141.5. Impact on global airlines fuel bill is estimated at $130.8 billion for the full year 2022. “The number of Covid-19 cases is once again on the rise in China, though the controversial Zero Covid strategy is still in force.
