African airlines head for break-even in 2008

AIRLINES IN Africa are cutting their losses, and are expected to hit break-even point in 2008. According to the latest forecast from the International Air Transport Association (Iata) – which represents almost all the world’s scheduled international carriers – last year’s net loss of over R2.8-billion will be cut to a net loss of about R710- million in 2007 and breakeven in 2008. “This is driven by an underlying improvement in operating profitability,” said the report, “as higher demand (on new routes to Asia as well as on the main Europe-Africa routes) helps to boost revenues and load factors.”