Experts: Nigerian Airlines Can Generate $1bn Annually from Developed West/Central African Destinations
Chinedu Eze Aviation experts are of the view that Nigerian airlines are looking at rekindling the viable air travel market across West and Central Africa, projecting that it can generate
Nigerian aviation experts predict that the country's airlines have the potential to generate $1 billion annually in the West and Central African markets. Over the past two decades, West Coast was a lucrative market for Nigerian carriers, but with the emergence of Asky Airlines and the decline of other Nigerian airlines, the market was shared by other carriers outside Nigeria.
International Air Transport Association (IATA) and African Airlines Association (AFRAA) studies show that the economic revamp in some West and Central African countries necessitates air travel to boost their economies.
The region is witnessing significant economic growth, with the International Air Transport Association reporting a 15.7% year-on-year regional capacity growth in Central and Western Africa. AFRAA places Central and Western Africa at 17.4% of the continent's total scheduled airline seat capacity distribution. Air travel demand across Africa grew by 6.4% year-on-year, outpacing the global average, as reported by IATA.
Approximately 43% of the region's traffic is domestic, primarily driven by Nigeria, and intra-African international routes account for 44% of the traffic. Europe remains the primary international destination for travellers from West and Central Africa, capturing nearly 39% of external traffic from the region.
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