The airline has also expanded its fleet to seven aircraft and increased its share of connecting passengers, reinforcing its ambition to position Entebbe as a regional hub.
Uganda’s national carrier, Uganda Airlines, is signaling a shift from recovery to growth after reporting improved financial performance and unveiling an ambitious long-term expansion strategy at its 4th Annual General Meeting.
Held at the Ministry of Finance boardroom in Kampala, the meeting brought together key government stakeholders and marked the first AGM attended by acting CEO Girma Wake. His presence underscored a renewed push to stabilize and professionalize the airline’s operations following years of early-stage challenges.
Speaking on behalf of the Finance Minister, State Minister for Privatization Evelyn Anite expressed strong confidence in Wake’s leadership, framing his appointment as a turning point. Government officials emphasized that continued public investment in the airline remains deliberate, arguing that most global carriers take years—often over a decade—to reach profitability.
Transport Minister, Gen. Edward Katumba Wamala echoed this optimism, pointing to “renewed confidence and stability” within the airline. He highlighted Uganda Airlines’ growing footprint, including capturing a significant share of passenger traffic at Entebbe International Airport and expanding routes across Africa, the Middle East, Europe, and Asia since launching in 2019.
Financial Turnaround Gains Momentum
Board Chairperson Priscilla Mirembe Serukka reported measurable progress toward financial sustainability. The airline reduced its net losses by 27 percent while boosting revenues by 22 percent—from sh349 billion to sh437.3 billion. These gains were attributed to improved route performance, increased passenger volumes, and stronger internal controls.
The airline has also expanded its fleet to seven aircraft and increased its share of connecting passengers, reinforcing its ambition to position Entebbe as a regional hub.
Ambitious Growth Strategy
Looking ahead, Uganda Airlines has finalized a 10-year strategic plan targeting expansion to 32 destinations. Planned investments go beyond aircraft and routes, extending into infrastructure such as a maintenance hangar, cargo warehouse, head office, premium hotel, and upgraded passenger lounges.
The airline also confirmed the return to service of its Airbus A330-800neo, a key asset for long-haul operations, which recently resumed flights to Dubai—boosting capacity on international routes.
Balancing Growth and Sustainability
Despite the progress, challenges remain. The Board is seeking increased working capital to maintain liquidity and sustain operations, highlighting the ongoing reliance on government funding. At the same time, leadership emphasized tighter cost controls, improved governance, and digital transformation as priorities to enhance efficiency and customer experience.
Bigger Picture
Uganda Airlines is positioning itself not just as a transport provider, but as a strategic economic tool aligned with Uganda’s broader development agenda. Officials argue the airline plays a critical role in boosting trade, tourism, and cargo logistics—key pillars in the government’s Tenfold Growth Strategy.
The latest results suggest the airline may be moving out of its most fragile phase. Whether it can transition from state-supported growth to long-term profitability will likely define its next decade.
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