The 4th Annual General Meeting For Uganda National Airline Company Held
The shareholders of Uganda National Airline Company Limited held the 4th Annual General Meeting at the Ministry of Finance, Planning and Economic Development to review the company’s performance and the way forward.
The Airlines, is a limited liability company owned by the Government of the Republic of Uganda with two shareholders, Ministry of Finance, Planning and Economic Development together with Ministry of Works and Transport.
Hon. Evelyn Anite, State Minister for Privatization and Investment representing Hon. Matia Kasaija, the Minister of Finance welcomed the new Acting Chief Executive Officer Uganda Airlines Mr. Girma Wake,saying it's a new dawn at Uganda airlines.
She said Government is interested in a proper functioning and profitable Airline noting that there’s potential. She expressed her appreciation to H.E the President for the passion of having a competitive airline in the region.
"Good job to our board chair and directors for steering our airline amidst challenges, Government is committed to supporting the company with all the financing and investment requirements," said the Minister.
The Minister said the airline is a business that requires time to stabilize, adding that most of the performing Airlines across the globe took over ten years to stabilize. She said it is timely for Uganda to invest in this business, noting that Uganda Airline has opened the country to many trade and tourism opportunities, easing passenger and cargo transport in the region and beyond which resonates directly with the Tenfold growth strategy.
"Ugandans, let us support Uganda Airlines, government has a clear and good strategic plan to stock the company with all aircrafts required to operate because there’s capacity and enough room for growth," said Anite.
Hon. Katumba Wamala, the Minister of Works and Transport speaking at the 4th Annual general meeting said Uganda is blessed to have a CEO that is coming in with tested experience required to run airlines,adding that he came at a time when he was most needed. Katumba said since his arrival, there has been calmness and sanity.
The Airline started operations in August 2019 and currently operates scheduled flights to 17 destinations in Africa, the Middle East, Europe and Asia from its hub at Entebbe International Airport. said the Minister
Mrs. Priscilla Mirembe Serukka Chairperson, Board of Directors presenting to the shareholders, appreciated their effort saying the airline is standing at a better place working with experienced CEO.
Presenting the annual performance report, Serukka highlighted the key achievements registered amidst challenges, noting that Uganda Airlines reduced its net loss by 27%, marking a positive trajectory towards financial sustainability.
“Over the past years, the Airline continued to evolve as a strategic national asset. We are not only connecting people and places but also actively supporting the country’s broader economic ambitions under the Government’s Tenfold Growth Strategy,’’ said the Board chair.
She said Uganda Airlines remains a strategic national asset and going concern backed by state support. "This airline has successfully transitioned from market-entry startup to regional competitor, now commanding 27% market share at Entebbe International Airport and contributing billions in taxes," she said.