United Nigeria Plans NY Flights, Stock Listing
United Nigeria Airlines has outlined plans to list on the Nigerian Exchange (NGX) and launch direct flights to New York as part of a broader expansion strategy targeting intercontinental operations by summer 2026.
Speaking at the carrier’s fifth anniversary news conference in Lagos on February 12, chairman Obiora Okonkwo said the airline intends to go public within the next three to five years. He noted that while a listing is part of the company’s medium-term growth plan, the airline must first ensure it meets regulatory, governance, and financial requirements before approaching the market.
Okonkwo said the move toward equity financing is driven by the high cost of borrowing in Nigeria, where bank interest rates range between 30% and 35%. Raising capital through the stock exchange would significantly reduce financing costs and support fleet and network expansion.
The airline’s five-year roadmap includes launching intercontinental services to the Gulf, Europe, and the United States. Planned destinations include Dubai, Jeddah, Rome, New York, and the United Kingdom. Okonkwo stated that by the end of the second quarter of 2026, United Nigeria Airlines aims to operate direct flights to New York.
In addition, the carrier plans to introduce six regional routes before mid-2026, potentially including Dakar, Monrovia, and Johannesburg.
To support its expansion, United Nigeria Airlines has acquired six Boeing 737-800 Next Generation aircraft from Southwest Airlines and is negotiating for three more of the same type. Deliveries are scheduled to begin in March 2026, with all aircraft expected before the end of the second quarter. The airline has also wet-leased two Airbus A330-200 aircraft from Air Anka, with deliveries planned between July and October 2026.
Founded on February 12, 2021, with a single Lagos–Enugu route, the airline currently operates a mixed fleet of owned and wet-leased aircraft. Okonkwo added that the carrier has transitioned to an approved maintenance organisation structure as a step toward establishing its own maintenance, repair, and overhaul facility within three years, further supporting long-term growth ambitions.
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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com