The International Air Transport Association (IATA) has highlighted the significant challenges and opportunities in Africa’s aviation sector at the African Airlines Association’s (AFRAA) 56th Annual General Assembly (AGA) in Cairo.
IATA Director-General Willie Walsh revealed that out of $1.662 billion in blocked airline funds globally, $950 million is trapped in African countries, with over $300 million concentrated in the West and Central African monetary zones. Walsh stressed the urgency of resolving these financial bottlenecks, warning that restricted funds could harm connectivity and economic prosperity in the region.
“Africa holds immense aviation potential, yet accounts for only 3% of global GDP and 2% of air transport. If airlines cannot repatriate their revenues, they cannot sustain services, and economies will suffer,” Walsh explained.
Despite these hurdles, Walsh commended the continent’s progress in safety, citing no hull losses or fatal accidents from 2020 to 2023. However, setbacks in 2024 highlight the need for broader adoption of global safety standards like IOSA and data-sharing systems such as the Global Aviation Data Management (GADM) initiative.
Walsh also spotlighted the critical role of sustainable aviation fuels (SAF) in decarbonizing the industry, calling on Africa to leverage its resources to become a global leader in SAF production. With proper financing and government incentives, SAF could generate jobs, stimulate growth, and drive energy independence.
The AGA 2024 served as a platform for industry leaders to address Africa’s aviation challenges while exploring paths to harness its untapped potential through safety, financial transparency, and sustainability.
