PUBLISHER’S NOTE

Publisher’s Note

Latest air cargo market report by the International Air Transport Association (IATA) shows that African airlines witnessed a 10.6% growth in demand in April 2024. However, on the downside, only 42.9% of the total air cargo capacity offered by African airlines was taken up. This mixed bag report highlights the need to grow intra African trade and increase domestic production across the continent.

Experts have warned that Africa’s share of global trade is declining thus giving impetus to the push for the full implementation of the various African Union initiatives including the Single African Air Transport Market (SAATM), the African Continental Free Trade Area (AfCFTA) and African Union Passport. These initiatives, if implemented, will yield several economic benefits including a quantum leap in air passenger and cargo throughput, economic growth and generate employment.

In her recent update on the implementation of SAATM, the Secretary General of the African Civil Aviation (AFCAC), Ms. Adefunke Adeyemi noted that 59 new routes have been established within Africa with 13 of those being Fifth Freedom Traffic routes. This is quite commendable but we agree with her that more needs to be done to liberalise air transport services in Africa.

It is on this note that we equally commend AFCAC for its efforts to develop a model template for economic regulation in Africa to support accessibility and affordability of aviation across the continent. There is no gainsaying that Africa cannot afford 54 disparate regulatory regimes if it must make real progress in the air transport sector.

In May, the continent continued its march for enhanced safety with the African Aviation Industry Safety Summit held in Addis Ababa, and the Aviassist/Landover Aviation Business School safety partnership aimed at grooming a pool of safety champions in Africa. The industry is billed to gather again for the IATA Focus Africa safety initiative in Johannesburg in July 2024. These measures are already yielding fruits and we continue to assure of our support to similar initiatives.

As the global airline industry gathers in Dubai, in June, for the 80th IATA Annual General Meeting, we hope the meeting will come up with resolutions to enhance air transport development in Africa and other developing regions.

In this edition of your industry magazine, we focus on Aviation Finance in Africa. We have an incisive article from a consultant in the aviation sector in Africa, Ms. Sindy Foster, Principal Managing Partner at Avaero Capital Partners. The feature explores lessons learnt in aircraft acquisition in Africa. The edition also features an interview with a leading promoter of aviation safety in Africa, Mr. Tom Kok, Director of AviAssist, in addition to our regular servings.

We invite you to partner with us through advert placements and editorial contributions as we work to reposition the African air transport industry.

Thank you.

 

Capt. Edward Boyo