African airlines post 5.7% lift in y-o-y passenger volumes
African airlines recorded a 5.7% rise in demand for passenger traffic year-on-year in September against a 6% increase in passenger capacity, the International Air Transport Association (Iata) reported in its Financial Monitor on Monday.
This was calculated for a passenger load capacity of 73.7%.
The report, which was compiled using airline share prices, jet fuel prices, airline third-quarter results, demand, capacity, load factors and yields, said this increase was offset by a 0.8% decrease in air freight demand against a 11.2% increase in air freight capacity.
This was recorded for a freight load factor of 28.7%.
Meanwhile, in October, airline shares rose 5% worldwide, slightly outperforming the market as jet fuel prices stabilised.
Jet fuel prices trended sideways in October, averaging $125/bl. While prices remained high, but within the range of the past two years, they were slightly lower than the recent $130/bl high seen in August.
“Jet fuel prices have been maintained at current levels by increases in crude oil supply from Saudi Arabia. This has countered upward pressure on prices from supply disruptions in some Organisation of the Petroleum Exporting Countries nations as well as strengthening demand from major consumers like China,” Iata noted.
Meanwhile, airline share prices in the US saw the strongest improvement, up 13% over the month and 76% since the start of 2013, supported by improvements in financial performance.
In contrast, airline share values in Asia Pacific were relatively weak, reflecting declines in financial performance so far this year.
The agency said early releases of third-quarter financial results suggested a continuation of the solid financial performance in the second quarter, with initial results indicating that airlines in North America were seeing year-on-year increases in both operating and net profits on the back of restructuring and consolidation.
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