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Opportunity Issue 102

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Opportunity magazine is a niche business-to-business publication that explores various investment opportunities within Southern Africa’s economic sectors. The publication is endorsed by the South African Chamber of Commerce and Industry (SACCI).

Incredibly, a new

Incredibly, a new airline was launched in 2021. Eurowings Discover is the Lufthansa Group’s leisure airline that flies out of Frankfurt in Germany to tourist destinations such as Mauritius, Zanzibar and the Kruger National Park. Global air traffic is on a recovery path The ICAO’s latest analysis of global air traffic reveals clear signs of a strong recovery in air traffic, characterised by increasing airline confidence and a range of regional air connectivity and air travel facilitation improvements. The International Civil Aviation Organization (ICAO) has published figures which point to a number of factors behind an uptick in air traffic volumes. The number of air passengers carried from January to April 2022 increased by 65% compared to the same period in 2021, while aircraft flight departures increased by 30%. Airline seat capacity grew by 32% during the same period, and with continuing supportive conditions for increases in air travel demand expected, the ICAO is projecting a stronger overall rate of recovery this year compared to last. In terms of regional highlights, North America and Latin America/Caribbean domestic seat capacity has now recovered to pre-pandemic levels, and the same has been true in other large domestic markets such as India, Australia, Brazil and Mexico. Intra-Europe seat capacity, meanwhile, is also on a very positive trajectory. By the end of 2022, total seat capacities within and between North America, Europe, the Middle East, South-West Asia and the Latin America/Caribbean region are all expected to recover to, or closely approach, their pre-pandemic levels. The pace of recovery in the Asia and Pacific and Africa regions continues to be more challenging, with a recovery of full seat capacity expected in Asia and Pacific by 2023-24, and in Africa by 2024-25. “These recovery indicators are highly encouraging,” stressed ICAO Secretary General Juan Carlos Salazar, “and most especially with respect to the reopened travel and tourism markets and other positive economic and sustainability benefits which inevitably result from expanded international seat capacity and air connectivity.” “There is still much to be done, however, and I look forward to the point where we can announce the full recoveries of all world regions.” The ICAO’s ongoing efforts to work with governments and industry to reconnect the world is expected to get another boost in September 2022, 42 |

AVIATION Future of Aviation Forum On 9 May 2022, ICAO Council President Salvatore Sciacchitano delivered the opening keynote address at the Future of Aviation Forum, which was hosted in Riyadh by the Government of the Kingdom of Saudi Arabia. Held at a pivotal moment for the global aviation sector, Saudi Arabia designed the Future Aviation Forum to bring leaders from across the aviation ecosystem to work together on resilience and modernisation and to act as a global platform to collectively set an agenda for the future of the sector. The President underscored in his introduction how the well-attended and high-level in-person event provided a "very positive sign that more optimistic and profitable horizons now lie ahead for global aviation". He proceeded to identify several key priorities for the sector, including the basic financial viability of both the industry and regulators which oversee it, the increasingly urgent challenge to aggressively decrease and eliminate air transport emissions even as the world and its economic recovery now fundamentally relies on restored traffic growth, and the resilience aviation needs to achieve to mitigate future pandemic events. The President's two-day mission to Saudi Arabia also comprised a series of bilateral ministerial meetings at which many of the forum's topics were explored. Tourists want to get back in the water after years of lockdown. The Wild Coast Sun has enough freshwater and seawater for all tastes. Credit: Sun International when the 41st ICAO Assembly will be held with inperson attendance of the civil aviation delegates from the UN agency’s 193 Member States. “The ICAO has established ‘Innovation’ and ‘Resilience’ as the co-themes for this year’s Assembly, and we expect some important decisions from states on how to prioritise current efforts to digitise a contactless travel experience and to promote more of the latest innovations in aircraft design and propulsion now taking place,” Salazar underscored. “It’s critical for economies everywhere that collaboration among governments and industry is reinforced, and that our global community builds on the current momentum for a full return to pre-pandemic flight levels, while parallel environmental and digital transformation progress continues to be made.” About The ICAO The ICAO is funded and directed by 193 national governments to support their diplomacy and cooperation in air transport. Its core function is to maintain an administrative and expert bureaucracy (the ICAO Secretariat) and to research new air transport policy and standardisation innovations as directed through the ICAO Assembly, or by the ICAO Council. Industry and civil society groups also participate in the exploration and development of new standards at the ICAO. | 43

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