By ANIEFIOK UDONQUAK, Uyo –
Ibom Air, a wholly indigenous airline owned by the Akwa Ibom State Government has announced a revenue growth of 43 percent from N67bn in 2023 to N96bn in 2024.
This announcement was contained in a statement issued by the company and signed by Annie Essienette , General Manager in charge of Communication and Marketing.
A copy of the statement was made available to newsmen after the first Annual General Meeting of the company held at Ikot Ekpene, Akwa Ibom State which was attended by Governor Umo Eno .
The statement said the company also grew its operational profit from a loss position of N3bn in 2023, to N16.6bn profit in 2024 while the net profit in 2024 was N6.8b as against N8.7bn loss in 2023.
Eno expressed his satisfaction with the performance of Ibom Air over the last 6 years and assured the airline that he would continue to support it to succeed to the point where the State Government can successfully divest some of its shareholding and bring on new investors.
“The shareholder also used the opportunity to announce the appointment of the pioneer Chief Executive as of the Company, Mfon Udom, as the new non-executive Chairman of the Board and the appointment of the current Executive Director and Chief Operating Officer, George Uriesi, as Acting Managing Director and Chief Executive Officer,” it stated
Udom was the consultant to the Akwa Ibom State Government that put together the business plan for Ibom Air.
He was then saddled with the responsibility as CEO, to establish the airline and to build it into what it has become today.
The ED / Chief Operating Officer was part of the consulting team and has worked closely with Captain Udom from the business planning stage of the airline, through establishing and building it into what it has become today.
The AGM concluded with renewed confidence in Ibom Air’s vision of becoming Africa’s airline of choice, with a strategic focus on regional connectivity, operational sustainability, and stakeholder value.
In his address, the immediate past Chairman of the Board, Imo-Abasi Jacob, expressed appreciation to the Shareholder, the Akwa Ibom State Government, and the airline’s loyal customers for their continued confidence and support.
He reaffirmed Ibom Air’s mission to maintain its industry-leading standards in safety, on-time performance, and service quality, even as he was bowing out of office after serving the statutory years as Chairman.
The Chairman reported that Ibom Air recovered from the loss position in 2023 follower by collapse of the Naira against the US Dollar, to a strong position of profitability in 2024.
