• A new DIY economy

    Reinventing society will be an opportunity to create a better future, says Ian Mann.

  • Healthcare headache

    State healthcare strategies must be more than political posturing, says Mzwandile Jacks.

  • Buzzwords and truths

    Mandi Smallhorne discusses her beef with the terms 'savings' and 'entrepreneurship'.

Loading...
See More

No profit for African airlines

Nov 20 2012 15:45
Sapa
Johannesburg - African airlines will collectively make no profit this year, the International Air Transport Association (Iata) said on Tuesday.

"This is despite air traffic growing strongly in Africa," the association's vice-president Mike Higgins told reporters in Sandton.

"So we need to understand the challenges facing aviation in the region."

He said air transport, which generated $67.8bn in gross domestic profit (GDP) for Africa, was vital for economic growth.

"With the right policies in place, this footprint will grow substantially in the years to come," he said.

The association forecast that aviation's direct contribution to GDP in Africa would increase by five percent a year over the next 20 years if airlines in Africa were profitable.

"And unfortunately our October forecast showed that once again African airlines will collectively make no profit this year."
iata

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About...

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Introducing tablets in schools is:

Previous results · Suggest a vote

Loading...