Uganda Airlines reports 54% revenue growth in 2024

KAMPALA - Uganda Airlines has reported a remarkable 54 percent surge in revenue, jumping from $63 million (sh230 billion) to $97 million (sh355 billion) between financial years 2022–2023 and 2023–2024.

This significant growth points to the airline's strategic expansion plans and its increasing popularity among travellers.

Chief Commercial Officer Adedayo Olawuyi, told journalists in Kampala that the airline is presently generating 90 percent of what it is expanding.

"The aviation industry is cost-intensive, but we are almost at the point where we will generate enough revenue to sustain operations," he said at the airline's office on Monday (March 31).

Olawuyi said this growth tells a good story, and with hope that the airline will be able to sustain it. "We've done about 60 percent of what we did in the entire year of 2023-24 in the first half of 2024-25, so definitely we continue to see growth."

This revenue growth is expected to be further boosted by the airline's upcoming direct flights between Entebbe International Airport and London Gatwick Airport, set to launch next month on May 18. 

This milestone marks Uganda's flagship carrier's first foray into the European market and re-establishes a direct air link between the East African nation and the United Kingdom after nearly a decade.

'Mature market'

Uganda Airlines CEO Jenifer Bamuturaki said the response to the route has been overwhelmingly positive.

"From the time we announced on the 18th of May to now, we have had over 500 bookings ticketed. That's the interesting thing. London is a very mature market. Europe is a mature market. Europe plans ahead," she said.

Bamuturaki said the airline she leads has faced its fair share of scrutiny in recent months, but rather than deter passengers, the publicity seems to have spurred interest. 

"The bad publicity has played in our favour. When people read that we have been stopped, they go to the website to check. Then they see flights are available, and they book."

The airline's financial success and expansion plans demonstrate its confidence in the country's aviation industry and its potential for long-term growth. 

More than just a flight, ​the new Entebbe-London route is also being seen as a symbol of progress, resilience, and global connectivity.

 Experts say the move will strengthen business ties, attract more tourists, and provide Ugandans with a direct link to one of the world's major financial hubs.

 Meanwhile, as Uganda Airlines warms up for its historic launch, it has refuted claims that its planned direct flights to London Gatwick have been suspended by the British government. 

The Airlines​ affirmed that its Foreign Carriers Permit remains valid and that its preparations to begin its 18th route remain on course.