L  L  News & Industry Affairs / Global

   L      Global News

Spotlight / 2023


News / 2023

  L  Global report ranks a South African airline as the second most punctual in the world
January 11, 2023. Rebecca Campbell for Engineering News.

Global aviation database and analytics company OAG published its “Punctuality League 2023” report on Tuesday, ranking both airlines and airports around the world in terms of their On-Time Performance (OTP) during last year. And a South African airline was ranked second in the world for its OTP: FlySafair (Safair). 
    FlySafair achieved an OTP of 95.3%, second only to Garuda Indonesia’s 95.63%. There were no other African airlines in the Top 20. Read more...

News / 2022

  L  Global airlines on track in 2023 to return to profit for first time since 2019
December 6, 2022. The National News.

Industry set to earn $4.7 billion next year on higher revenue after narrowing losses this year.

Airlines around the world are on track to return to profit next year after narrowing losses this year as passenger demand continues to improve and Covid-19 restrictions ease, despite economic headwinds, the International Air Transport Association (IATA) has said.

The global industry is forecast to collectively earn a net income of $4.7 billion in 2023 — the first time it will return to the black since 2019, when it recorded a profit of $26.4 billion — while revenue is projected to reach $779 billion, Iata said in Geneva on Tuesday. Read more...

  L  Below the wing of the global airline sector
September 1, 2022. VettaFi.

The rising price of jet fuel, which recently reached its highest point in well over five years, at almost $103/barrel, has become yet another challenge for the global aviation industry, which is badly hit because of Covid-19. 

Fuel is a major cost component of operating an airline, often accounting for 20-30% of operating costs, according to OAG, a UK-based global travel data provider. So, a rise in fuel costs of this scale (70% up on a year ago) means airlines have to reduce costs elsewhere or increase fares, OAG said and noted, “In the current operating environment neither is easy.”
    IATA estimates that jet fuel will average $102.2/barrel this year. This, it said will have a $65bn impact on the airline industry’s 2022 fuel bill. Fuel is such a large cost for airlines that it is the focus of intense efforts across the industry to find efficiency improvements. Read more...

  L  Global airlines under pressure as jet fuel price soars  
February 2, 2022. Gulf Times.

The rising price of jet fuel, which recently reached its highest point in well over five years, at almost $103/barrel, has become yet another challenge for the global aviation industry, which is badly hit because of Covid-19. 

Fuel is a major cost component of operating an airline, often accounting for 20-30% of operating costs, according to OAG, a UK-based global travel data provider. So, a rise in fuel costs of this scale (70% up on a year ago) means airlines have to reduce costs elsewhere or increase fares, OAG said and noted, “In the current operating environment neither is easy.”
    The global body of airlines – IATA estimates that jet fuel will average $102.2/barrel this year. This, it said will have a $65bn impact on the airline industry’s 2022 fuel bill. Fuel is such a large cost for airlines that it is the focus of intense efforts across the industry to find efficiency improvements. Read more...