L  L  News & Industry Affairs / Global

   L      Global News

Spotlight / 2023

News / 2023

  L  Aerospace Composites Global Market Report 2024-2034
November 16, 2023. Research & Markets.

Development of novel composite materials with enhanced properties presents market opportunities

In the rapidly evolving aerospace industry, an urgency to decrease aircraft weight and environmental impact has thrust the global aerospace composites market to the forefront of technological advancement. Composite materials, deceptively light compared to traditional metals, are paving the way for more efficient air travel. With the potential to reduce aircraft weight significantly, this shift towards lighter materials is revolutionizing the fuel efficiency landscape; an example is the extensive utilization of carbon-fiber composites in the Boeing 787 Dreamliner, making it 20% more fuel-efficient than predecessors. Read more...

  L  Airline Business Covid-19 recovery tracker: October 2023 update
October 9, 2023. Lewis Harper for FlightGlobal News.

FlightGlobal offers an examination of the latest global data for several key airline market indicators, including traffic and capacity in passenger and cargo markets, in-service and stored fleets, jet fuel costs, and share price trends for the world’s largest groups. Read more...

  L  Global airlines' blocked payments up 47% to $2.3bn, IATA says
June 4, 2023. Patrick Lawlor for EInvesticNews.

Global airlines are owed $2.3 bn by governments around the world, depriving the aviation industry of much-needed cash, risking reduced air connectivity and damaging investors' perceptions of these economies, IATA said on Sunday. The amount of airline revenue prevented by governments from repatriation has jumped by 47 per cent in the last 12 months, the industry body said at a press briefing in Istanbul. Read more...     

  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

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...