Uganda Airlines holds AGM amid push for increased funding
KAMPALA, April 24, 2026 — The national carrier, Uganda National Airlines Company Limited, has called for increased funding to sustain its operations in an increasingly competitive regional aviation industry.
Speaking at the recent Annual General Meeting [AGM], held in Kampala, the Chairperson of the Board of Directors, Priscilla Mirembe Serukka, told stakeholders that the airline is on an improving financial and operational trajectory.
She said the carrier has reduced its net loss by more than 27 per cent, signalling progress towards financial sustainability, alongside strengthened management systems and internal controls.
“We seek the support of the Annual General Meeting in approving an increase in working capital to strengthen liquidity, sustain operations, and ensure the timely release of funds,” Serukka said.
She added that the airline has recorded revenue growth of 22 per cent, rising from Shs 349 billion to Shs 437.3 billion. The fleet has expanded to seven aircraft, with plans underway to open additional routes and establish a progressive maintenance unit.
“Over the past years, the airline has 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,” she said.
According to Serukka, the airline has transitioned from a market-entry start-up to a regional competitor, commanding about 27 per cent market share at Entebbe International Airport and contributing billions of shillings in taxes.
She said the board remains committed to strengthening enterprise-wide governance, maintaining disciplined cost management, optimising the route network, and enhancing passenger experience through digital transformation.
The AGM also provided an opportunity to formally introduce the newly appointed Chief Executive Officer, Girma Wake, an Ethiopian national who replaces Jenifer Bamuturaki.
Wake was appointed by President Yoweri Museveni in a consultancy role to steer the airline through a period of operational and leadership challenges that had contributed to persistent losses.
Speaking at the meeting, the Minister of Works and Transport, Gen Katumba Wamala, urged Wake to move swiftly in addressing operational inefficiencies, restoring internal order, and rebuilding passenger confidence.
“Prepare very fast, because there are issues that must be immediately addressed. While the airline has made progress, there are still operational challenges. However, there are positive signs, including increased passenger numbers at Entebbe,” Wamala said.
The State Minister for Privatisation and Investment, Evelyn Anite, said government remains committed to supporting a well-functioning and profitable national airline, noting that its current performance is promising.
“Government is committed to supporting the company, including financing its investment requirements in a timely manner,” she said, commending the board for steering the airline through challenging times.
During the meeting, the board also presented a 10-year strategic plan that outlines expansion to 32 regional and international destinations. The plan includes investment in key infrastructure such as a head office, maintenance hangar, cargo warehouse, premium-class hotel facility, and a modern business-class lounge.
Uganda Airlines is a limited liability company wholly owned by the Government of Uganda, with shareholding held by the Ministry of Finance, Planning and Economic Development and the Ministry of Works and Transport.
The revived national carrier resumed operations in August 2019 and currently flies to 17 destinations across Africa, the Middle East, Europe and Asia from its hub at Entebbe International Airport.
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