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Aviation sector in Africa to hit USD100m net profit in 2014
(MENAFN) Africa's aviation sector is expected to hit a USD100 million net profit in 2014, a reversal from a net loss of USD100 million recorded in 2013, African Airlines Association (AFRAA) Secretary-general Elijah Chingosho said, Xinhua reporte
He told Xinhua at the ninth Routes Africa meeting, which ends Wednesday, that the positive performance projected was on the back of improved economic growth on the continen
The World Bank has projected Africa's economy to grow by 4.7 percent this year, before rising to 5.1 percent in each of 2015 and 2016 supported by firming demand and investments in natural, infrastructure and agriculture productio
Chingosho said the boom in Africa's economy would translate into increased air traffic volumes. He, however, said the USD100 million profit would be grossly inadequate for investment and re-equipment of the airlines
He told Xinhua at the ninth Routes Africa meeting, which ends Wednesday, that the positive performance projected was on the back of improved economic growth on the continen
The World Bank has projected Africa's economy to grow by 4.7 percent this year, before rising to 5.1 percent in each of 2015 and 2016 supported by firming demand and investments in natural, infrastructure and agriculture productio
Chingosho said the boom in Africa's economy would translate into increased air traffic volumes. He, however, said the USD100 million profit would be grossly inadequate for investment and re-equipment of the airlines
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