CAPA’s Hottest Airlines to watch in 2011: Africa
African airlines are projected to return to profitability in 2010 for the first time since 2002, reflecting stronger economic activity and bolstered by what IATA describes as "a decade of cost-cutting, restructuring, and re-engineering." Many of Africa's 53 countries are experiencing rapid economic growth, spurred by global demand for commodities, led by China's insatiable need for raw materials. Reflecting these developments, projections for African airline profits stand at a combined USD100 million profit in 2010 with a breakeven result anticipated for 2011. It follows an estimated USD100 million loss in 2009. In this installment in CAPA's series on the world's Hottest Airlines to Watch in 2011, we focus on the movers and shakers in Africa.
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