The International Air Transport Association (IATA) has released its latest industry outlook for 2023.

While the global outlook is better than expected with total industry net profits expected to reach (US) $9.8bn this year  – which is more than double the previous forecast of $4.7 billion (December 2022).

However, the outlook for Africa’s airlines remains negative:

• Africa airlines on the continent are expected to incur a combined – (US) $0.5 billion loss this year, which is an improvement on the -(US) $0.8bn combined loss of 2022.
• Africa remains a difficult market in which to operate an airline, with economic, infrastructure and connectivity challenges impacting the industry performance.  Nonetheless, despite these challenges, there is still robust demand for air travel in the region which underpins the continued move towards a return to overall industry profitability.

In his industry address, IATA Director-General, Willie Walsh, also drew attention to South Africa where the country’s main airports want to raise charges by 38% and its air navigation service wants to hike air traffic control fees by 63%.