Uganda Airlines signals recovery at fourth AGM

Uganda Airlines used its 4th Annual General Meeting to send a clear message: after early turbulence, the national carrier is shifting firmly into a phase of recovery and rebuilding.

Held on Wednesday in the Ministry of Finance boardroom, the AGM marked more than a routine shareholder review. It signaled a reset—one anchored in new leadership, improving financials, and a long-term plan to stabilize and grow the airline.

At the center of that reset is Girma Wake, attending his first AGM as Acting Chief Executive Officer. His arrival has become a focal point for renewed confidence within both government and the airline.

Speaking on behalf of the Finance Minister, State Minister for Privatisation Evelyn Anite framed the moment as a turning point rather than a continuation of past struggles. She pointed to Wake’s experience as a catalyst for change, saying the airline is now “on a stronger path,” with earlier challenges being actively addressed.

That sense of recovery is backed by numbers. Over the past year, Uganda Airlines cut its net loss by 27 percent—one of the clearest indicators yet that cost controls and operational adjustments are beginning to take hold. Revenue rose by 22 percent, climbing from 349 billion to 437.3 billion shillings, while passenger volumes and connectivity improved.

Board Chairperson Priscilla Mirembe Serukka described these gains as evidence that the airline is moving beyond its startup phase into a more disciplined, performance-driven operation. Stronger management structures and tighter internal controls, she said, have been key to that progress.

Operationally, the airline is also regaining momentum. It now operates a fleet of seven aircraft, serves 17 destinations, and has secured a significant share of traffic at Entebbe International Airport. The recent return to service of its Airbus A330-800neo—resuming flights to Dubai on April 17—further strengthens its long-haul capacity and signals improved reliability.

Government officials acknowledged that the road to stability for any national airline is long. Globally, carriers often take more than a decade to break even, a reality Uganda is factoring into its continued financial support.

Minister of Works and Transport General Katumba Wamala echoed the recovery narrative, noting that Wake’s leadership comes at a critical time. He pointed to “renewed confidence and stability” within the airline, alongside steady operational progress despite earlier setbacks.

Looking ahead, the focus is on consolidating these gains. A newly approved 10-year strategy aims to expand the route network to 32 destinations while investing in core infrastructure—including a maintenance hangar, cargo facilities, and a modern passenger experience.

The airline is also seeking increased working capital to maintain liquidity, a move the board argues is essential to sustain recovery and avoid past disruptions.

Taken together, the message from the AGM is less about ambition alone and more about trajectory. Uganda Airlines is no longer simply trying to launch and survive—it is working to stabilize, rebuild trust, and lay the foundations for long-term viability as a national carrier.