Ethiopian Airlines, Africa’s largest airline is experiencing a notable surge in passenger numbers, anticipating a 30% increase in passengers by June 2024 compared to the previous year. The airlines‘ growth is primarily attributed to the airline’s expansion of new routes and the recovery of global air travel.
This is according to the International Air Transport Association’s (IATA) recently released data, showing an 8.1% year-on-year increase in demand for African airlines in March 2024.
Ethiopian Airlines has been on an upward trajectory, recently marking its 78th year of operation with a special flight to Cairo, where airline executives served as part of the crew. The carrier has steadily expanded its operations over the last decade, solidifying its position as a key player in the African aviation market. CEO Mesfin Tasew shared in an interview with Reuters that “the airline is optimistic about achieving its growth targets, with expectations to carry significantly more passengers by June 2024”.
In the financial year ending June 2023, Ethiopian Airlines carried approximately 13.9 million passengers. The airline’s performance in the current financial year indicates a strong likelihood of meeting its growth target, which includes a projected 20% increase in revenue to $7.3 billion. Over the past year, Ethiopian Airlines has launched new routes, resumed services to key destinations, and increased frequencies on existing routes, further driving its growth trajectory.
Despite its positive outlook, the airline has faced challenges common to many carriers worldwide, including delays in aircraft deliveries and supply chain disruptions. Tasew highlighted the current aircraft shortages due to delays in deliveries from manufacturers, particularly Boeing. However, he expressed confidence in Boeing’s ability to address these issues, emphasizing their belief that Boeing is well-positioned to resolve these challenges.
In a broader context, IATA’s data reveals a strong growth trend for international passenger markets, with demand increasing by 13.8% globally in March 2024 compared to the same period last year. Across all regions, international demand surged by 18.9%, while domestic demand increased by 6.6%. Despite the positive growth, challenges such as supply chain issues, staffing concerns at airports and air traffic management need to be addressed to ensure a smooth travel experience for passengers.
While Africa accounts for a small percentage of global passenger traffic and air cargo market share, the region has shown significant growth potential. African carriers saw a 14.2% year-on-year increase in air cargo demand in March 2024, with capacity also on the rise. However, challenges remain, particularly in the Africa-Asia market, which experienced a significant decrease in demand compared to the previous month.
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