Uganda Airlines Focused on Growth, Not Profitability Yet
Uganda Airlines is still in its investment phase, and discussions about profitability are premature, according to Uganda’s Secretary to the Treasury, Ramathan Ggoobi. Speaking at the Uganda-UK Trade and Business Forum in Kampala, held ahead of the airline’s inaugural Entebbe–London Gatwick flight on May 18, Ggoobi emphasized the government’s long-term commitment to building the national carrier.
“You don’t start making profits in the investment phase. Uganda Airlines is just investing,” he stated, urging Ugandans not to compare the young airline with more established carriers like Ethiopian Airlines or British Airways. He confirmed that the government plans to expand the fleet with regional, domestic, and cargo aircraft.
Uganda Airlines reported a 26.5% reduction in losses, from UGX323.6 billion (USD88.3 million) in 2022/23 to UGX237.8 billion (USD64.9 million) in 2023/24, according to the Auditor-General. The airline is also developing a 10-year strategy focused on financial sustainability, efficiency, workforce development, and stakeholder engagement.
CEO Jenifer Bamuturaki added that the airline is scaling up international operations and aligning with global environmental standards. She highlighted compliance with the EU’s ReFuelEU Aviation mandate, which requires a 2% blend of sustainable aviation fuel (SAF) from April 2025. Uganda Airlines now reports carbon emissions quarterly, and its two Airbus A330-800Ns meet EU standards.
The airline’s current fleet includes four CRJ900LRs and one A320-200 wet-leased from DAT. Two A320-200Ns are expected via dry lease in June 2025. Long-term plans include four A320neos post-2030 and two Boeing 787s, along with two freighters approved in late 2024.
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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com