Tuesday, June 8, 2010

African airlines set to post first profit since 2002 as global economy recovers

When you speak to many folks who seem to follow Africa's latest economic progress, they're quick to pointing at the minerals-for-infrastructure deals with China that tend the dominate the headlines. But, as one undertakes a closer examination, the breadth of the economic expansion is quite surprising. A great example of this is the below article on African airlines (not the name of an airline) which are set to not only turn a profit this year but also increase their footprints to new national and regional destinations as the demand for fast and reliable transport is on the rise

Airlines in Africa are expected to post $100 million profit from an earlier forecasted loss of $100 million. The upward revision is in line with the whole. Read more

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