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Tag: IATA

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IATA projects $1tn revenue, record passenger numbers by 2025

The International Air Transport Association has forecasted a milestone 2025 industry revenue exceeding $1 trillion, alongside record passenger numbers. However, IATA’s chief, Willie Walsh, highlighted significant challenges due to delays in aircraft deliveries from Boeing, Airbus, and their suppliers, which are restricting airlines’ growth. These delays stem from supply chain issues and production constraints. Airlines […]

Aviation

IATA removes Nigeria from list of countries blocking airline revenue

The International Air Transport Association has removed Nigeria from the list of countries that failed to allow the repatriation of foreign airlines’ revenue. This decision followed the Nigerian government’s clearance of all revenue backlogs owed to foreign airlines earlier this year. Blocked funds globally as of Monday, amounted to $1.7 billion. In January 2024, the […]

Aviation News

Africa-Asia air cargo routes surge 37.5% in June 

The air cargo route between Africa and Asia has seen exceptional yearly growth, with an astounding 37.5% increase in June 2024. This is critical for Nigeria, as its aviation sector is integral to Africa’s industry, with substantial cargo traffic to and from Nigeria, impacting the country’s economy and trade. For Nigeria, this is critical since […]

News

Aviation fuels will triple to 1.9bn liters in 2024 – IATA

The International Air Transport Association has said that the production of Sustainable Aviation Fuels is expected to triple to 1.9 billion liters in 2024. This would cover 0.53% of the fuel required by aircraft in 2024. Governments could implement several policy initiatives to speed up the usage of SAF. The Director General of IATA, Willie […]

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CBN clears $831m foreign airlines’ trapped funds – IATA

The International Air Transport Association has confirmed that the Central Bank of Nigeria has cleared foreign airlines trapped funds worth $831m from June last year to date. This was disclosed by the Director-General of IATA, Willie Walsh, in a statement on Sunday, according to The Punch. International airlines now have over $1.8 billion in funds […]

FG's 10-man panel to investigate airlines over fare hike
News

FG’s 10-man panel to investigate airlines over fare hike

The Nigeria Civil Aviation Authority’s CEO, Chris Najomo, has appointed a 10-member committee to investigate international airlines over their exorbitant charges in an effort to lower the cost of air travel for Nigerians. The PUNCH stated that, this was revealed in a news release sent to media on Thursday and signed by NCAA Director-General Chris […]

IATA, weather company collaborate on data
Business

IATA, weather company collaborate on data

The Weather Company and the International Air Transport Association are working together to provide airlines with improved weather information pertaining to turbulence. The PUNCH reported that an IATA statement showed that The Weather Company, which provides aviation solutions to the majority of commercial airlines in North America and many others worldwide, is using the association’s […]

IATA, weather company collaborate on data
Aviation

Why aviation industry hasn’t recovered from pandemic losses – IATA

The aviation industry is still getting over the losses from the pandemic that severely disrupted airline operations around the world, according to the International Air Transport Association. The Punch reported that Africa’s aviation industry is predicted to have suffered $7.7 billion in losses in 2020 as a result of government restrictions imposed to stop the […]

Aviation ministry gets N40bn approval for NAVAID upgrade
Aviation

“Airlines sign SAF $45bn forward purchase agreements” – IATA

Airlines have secured global forward purchase agreements for Sustainable Aviation Fuel worth $45 billion, according to an announcement made by the International Air Transport Association. The Times reported that the International Civil Aviation Organisation held the Third Conference on Aviation Alternative Fuels in Dubai on Friday when this information was revealed. The conversations mostly focused on how important it […]

IATA, weather company collaborate on data
Aviation

Foreign airlines lament as over $700m remain stuck in Nigeria

Foreign airlines have stated that around 90% of their $783 million stuck cash have not been paid. According to The Punch, airlines made this announcement at a recent stakeholders’ event that the Minister of Aviation and Aerospace Development, Festus Keyamo, convened in Lagos. The International Air Transport Association reported that as of August 2023, Nigeria accounted for a substantial $783 […]

IATA, weather company collaborate on data
Aviation

Foreign airlines’ trapped funds hit $783m – IATA

The International Air Transport Association has stated that as of August 2023, Nigeria accounts for $783 million of the airline industry’s blocked cash. In a statement, the trade group said that the IATA’s regional vice president for Africa and the Middle East, Kamil Al Awadhi, conducted discussions with the Federal Government to fix the issue. The Punch has previously […]

Flutterwave partners IATA to facilitate improved flight payment for African airlines
News

Flutterwave partners IATA to facilitate improved flight payment for African airlines

Africa’s leading payments technology company, Flutterwave has joined forces with the International Air Transport Association to enhance travel experiences and facilitate seamless payments for airlines operating in sub-Saharan Africa. Through this collaboration, airlines worldwide can leverage Flutterwave’s integration with IATA’s Financial Gateway to process payments from customers using various methods, including cards, bank transfers, mobile […]

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