"It's no secret that Africa represents a massively untapped market, " says Birns.

CNN: EasyJet founder to launch low-cost airline in Africa

Spencer Birns, Cardiff Airport's head of commercial operations and air services development, said the bulk of the passenger drop was due to bmibaby's cuts to routes and frequency of service.

BBC: Cardiff Airport

Spencer Birns, the airport's head of commercial operations, said it was expected that passenger numbers would "hit the very bottom" during 2012 as the full-year effect of bmibaby's departure was recorded.

BBC: Cardiff airport

Birns says that as Africa's cities get more populated and as demand for business is growing, the expansion of the low-cost model should revolutionize the continent's air transport in the same way that it did in North America, Europe and now in Asia.

CNN: EasyJet founder to launch low-cost airline in Africa