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Airlines to pay $222bn extra for fuel in 2022
The International Air Transport Association (IATA) has revealed that airlines are spending $222 billion extra on fuel.
Kamil Alawadhi, Regional Vice President for Africa and the Middle East at IATA, stated this while speaking at the African Airlines Association General Assembly in 2022 on Monday.
According to him, despite the oil prices having decreased from mid-year highs, the average price of jet fuel so far this year has been $138.8 a barrel more than the global oil price.
The IATA boss explained that the discrepancy showed that airlines would collectively pay an extra $222 billion for fuel this year compared with 2021.
He stressed further that fuel accounted for 30% of airline costs.
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Alawadhi in his address also warned that African carriers should not compromise on safety, stressing that in 2021, the continent’s airlines on the IATA Operational Safety Audit registry had zero accidents with incidents across Africa by regional and global operators continuing to be experienced.
He said, “Regrettably the region’s accident rate remains the highest. This should serve as a sharp reminder that we need to work together towards enhanced safety oversight particularly in the areas of reporting and investigation of incidents and accidents, adopting a more aggressive approach to addressing the highest recurring operational risks.
“Prioritise safety data and information exchange by all stakeholders in order to build an accurate picture across the continent.”
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