African airlines witnessed 8.1% rise in March passenger demand – IATA

Date:

May 2, 2024.

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Azonuchechi Chukwu.

In March 2024, African airlines experienced an 8.1% year-on-year increase in international passenger demand, signaling robust growth in international passenger markets during that period.

This information is sourced from the March 2024 International Air Transport Association (IATA) Air Passenger Market Analysis report, as published on the IATA website.

Additionally, the report noted that the capacity of African airlines increased by 11% year-on-year to meet the rising passenger demand.

However, the load factor of African airlines in March 2024 dropped to 70.3%, indicating that, on average, flights were 70.3% full during this period, reflecting a slight 1.9 percentage point decline compared to March 2023.

“African airlines saw an 8.1% year-on-year increase in demand. Capacity was up 11.0% year-on-year. The load factor fell to 70.3% (-1.9ppt compared to March 2023),” the report read in part.

Comparing the 8.1% year-on-year increase in international passenger demand of African airlines to other regions across the world in March, Asia-Pacific airlines recorded the highest increase at 38.5%. European carriers experienced an 11.6% rise in demand, while Middle Eastern airlines saw a 10.8% increase. North American carriers reported a 14.5% growth in demand, and Latin American airlines witnessed a surge of 19.7% in international passengers.

In terms of the capacity and load factor of airlines in other regions for March 2024, Asia-Pacific airlines experienced a 37.4% capacity growth with an 85.6% load factor, while European carriers saw an 11.4% capacity increase and a 79.9% load factor. Middle Eastern airlines had a 13.9% capacity growth and a 77.5% load factor; North American airlines reported a 14.8% capacity growth and an 84.7% load factor, while Latin American airlines maintained an 84.3% load factor.(www.naija247news.com).


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Azonuchechi Chukwu
Azonuchechi Chukwuhttps://gravatar.com/azonuchechivchukwu
Azonuchechi Chukwu - Business Journalist at Naija247news.com Azonuchechi Chukwu is a seasoned business journalist contributing to the insightful coverage of economic and financial news at Naija247news.com. With a passion for unraveling the complexities of the business world, Azonuchechi brings a wealth of expertise and dedication to his role. As a Business Journalist, Azonuchechi specializes in providing comprehensive analyses of market trends, corporate developments, and economic indicators. His in-depth reports offer Naija247news.com readers a nuanced understanding of the forces shaping the Nigerian and global business landscapes. Azonuchechi Chukwu's commitment to journalistic excellence is evident in his ability to translate complex financial information into accessible and engaging narratives. Whether exploring stock market fluctuations, corporate strategies, or economic policies, he strives to deliver content that empowers readers with valuable insights. With an educational background in business and a keen interest in the intersection of finance and technology, Azonuchechi stays at the forefront of industry dynamics. His coverage extends beyond traditional financial reporting, encompassing the dynamic realms of fintech, entrepreneurship, and sustainable business practices. Azonuchechi Chukwu's work goes beyond the surface, aiming to foster financial literacy and awareness among Naija247news.com's audience. By demystifying economic complexities and shedding light on emerging opportunities, he plays a pivotal role in keeping readers well-informed in the fast-paced world of business. As Naija247news.com's Business Journalist, Azonuchechi Chukwu continues to make meaningful contributions to the platform's mission of delivering timely, accurate, and relevant business news to its diverse audience. His dedication to journalistic integrity and his ability to navigate the intricacies of the business realm make him an invaluable asset to the Naija247news.com team.

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