Nigerian airlines and others see a massive 91% increase in revenue

According to the International Air Transport Association, despite global economic and geographic risks, passenger revenue in Nigeria and other African nations increased by 90.5% between September 2021 and 2022. Strong demand, according to the international trade organization that represents over 290 international airlines in 120 nations, helped the sector manage high fuel prices.

"Total traffic in September 2022 (measured in revenue passenger kilometers, or RPKs), increased by 57.0% compared to September 2021," the statement said. Traffic is currently worldwide at 73.8% of September 2019 levels. Domestic traffic for September 2022 was up 6.9 per cent compared to the year-ago period. Total September 2022 domestic traffic was at 81 per cent of the September 2019 level.  International traffic climbed 122.2 per cent versus September 2021. September 2022 international RPKs reached 69.9% of September 2019 levels. All markets reported strong growth, led by Asia-Pacific.”

The Director General, IATA, Willie Walsh, was noted saying, “Even with economic and geopolitical uncertainties, the demand for air transport continues to recover ground. The outlier is still China with its pursuit of a zero COVID strategy keeping borders largely closed and creating a demand roller coaster ride for its domestic market, with September being down 46.4 per cent on the previous year. That is in sharp contrast to the rest of Asia-Pacific, which, despite China’s dismal performance, posted a 464.8 per cent increase for international traffic compared to the year-ago period.”

He continued by saying that after almost three years of complicated travel due to the pandemic, travelers now desired convenience and simplification, stressing that this was a crucial message for airlines as well as airports and governments.

Walsh said, “They own many of the facilitation processes that let passengers down at some key airports over this year’s northern summer travel season. According to the GPS, a majority of passengers want to use biometric data rather than passports for border processes.
“And 93 per cent of passengers are interested in trusted traveler programs to expedite security screening. Modernizing the facilitation experience will not only help alleviate the choke points, it will create a better experience for all.”


References
Punchng, 'Nigerian airlines, others record 91% revenue growth -IATA' (online, 2022) <https://punchng.com/nigerian-airlines-others-record-91-revenue-growth-iata/>.