L L News & Industry Affairs / Global
L Global News
Spotlight / 2023
News / 2023
L Worldwide, air passenger travel continues its strong recovery
May 5, 2023. Rebecca Campbell for Engineering News.
Global air passenger traffic continued, in March, to recover strongly from the C-19 pandemic, the International Air Transport Association (IATA) has reported. Total air passenger traffic in that month jumped 52.4% in year-on-year (y-o-y) terms, and reached 88% of March 2019 (pre-C-19) levels. The recovery was led by the Asia-Pacific region, but all markets reported growth. Read more...
L WEF 2023 Insight Report - AfCFTA: A New Era for Global Business and Investment in Africa
January 30, 2023. WEF Publication.
The AfCFTA will provide important opportunities for Africa, increasing international exports and intra-African trade
The World Economic Forum (WEF) has published their 2023 Insight Report AfCFTA: A New Era for Global Business and Investment in Africa that focuses on how logistics companies are responding to the free trade agreement.
Officially launched in 2021, the African Continental Free Trade Area (AfCFTA) creates a single market projected to grow to 1.7 billion people and $6.7 trillion in consumer and business spending by 2030.
The preferential trade agreement will increase international exports and intra-African trade, unlocking tremendous opportunities for local and global businesses to enter into and expand throughout new markets across the continent. Download the report...
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...
Spotlight / 2022
- December 6. WEF: Will the airline industry return to profiltability in 2023?
- December 6. Top six trends that will shape the airline industry in 2023
- December 6. Global airlines on track in 2023 to return to profit for first time since 2019
- October 14. Global Aviation Analytics Market Growth Trajectory
- September 6. Big airports still struggling to get back to pre-pandemic levels
- September 5. Global Low Cost Airlines Market Is Expected to Generate $440.46 Billion by 2030: Allied Market Research
- September 1. Below the wing of the global airline sector
- July 15. Why rising fuel prices might not be as bad for the airline sector as it seems
- February 24. Global aviation is poised for a decade of growth, but there are headwinds besides Covid-19
- February 2. Global airlines under pressure as jet fuel price soars
- January 26. International air travel recovery continued in December despite Omicron impact
- January 25. Global airlines 'optimistic' about 2022 outlook as Omicron-related restrictions ease
- January 11. Flight delays pinch travelers, but airlines will be all right - Nasdaq
- January 8. Flight disruptions will not derail airlines' recovery in 2022, says Moody's
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...