AerCap CEO Aengus Kelly on aviation opportunities in Africa

The aviation sector in Africa is at a critical juncture as it navigates the challenges brought about by the COVID-19 pandemic. With the recent news of Comair's inability to secure funding for its return to operations, the spotlight is on the resilience and opportunities in the industry. Aengus Kelly, the CEO of AerCap, the largest aircraft leasing company in the world, shared his insights on the state of Africa's aviation sector in an exclusive interview with CNBC Africa. Despite the setbacks, Kelly remains optimistic about the continent's potential for growth and development in the aviation sector. The key theme that emerged from the interview was the need for governments to play a pivotal role in supporting the recovery and expansion of the aviation industry in Africa. Kelly emphasized the importance of open skies policies and reducing government intervention to stimulate competition, lower fares, and drive economic growth. He highlighted the significant growth opportunities in Africa's aviation market, fueled by pent-up demand and a young, growing population. Kelly also discussed the impact of rising fuel costs and inflation on the industry, noting that while airlines are passing on these costs to consumers, long-term sustainability will depend on factors such as capacity discipline and competent management teams. The interview shed light on the challenges and opportunities facing the aviation sector in Africa, underscoring the need for strategic government policies and industry initiatives to unlock the continent's aviation potential.