Ibom Air, a Nigerian airline, has projected a revenue of N150 billion for 2025, a significant increase from the N96 billion it realised in 2024.
George Uriesi, the airline’s Managing Director, made this projection at a Travel Agents Forum organised in Lagos, where he also disclosed the airline’s ambitious plan to expand operations to all African cities.
According to Uriesi, Ibom Air will join the Global Distribution System (GDS) by October 2025 to expand its reach globally. The airline is also planning to begin operations to new African destinations, including Malabo, Douala, and Sao Tome. Additionally, Ibom Air will soon start operating from its new terminal, which is specifically designed to support its operations and accommodate the biggest and best aircraft in the world.
“We are about to expand our operations to most African cities, and we are about to start operating from our new terminal,” Uriesi said. “This is the only hub terminal in the country, built to support our operations, and we are going to match it with the best aircraft in the world. But above all, we want to establish reliability, we are going to be on GDS by October 2025 to widen our reach because a number of foreign airlines have approached us for partnership but they are also asking questions relating to reliability.”
Uriesi emphasized that reliability is a top priority for the airline, and it will work to establish a reputation for on-time performance. “We have a very carefully developed, strategic ambitious plan, and we believe that growth should be pragmatic,” he said.
“We increase our frequency and add the capacity to sustain it. Our core values are reliability and On-Time performance, we also want feedback from our travel partners so that we can meet their expectations.”
The airline currently operates a fleet of nine aircraft and flies to seven destinations. Uriesi noted that the airline’s revenue has been growing steadily, with a projection of N150 billion in 2025. “Last year, our revenue was N96 billion. We have just finished our half year and I’m sure our revenue will be approaching N150 at the end of this year,” he said.
On the issue of flight delays and cancellations, Uriesi acknowledged that it is a challenge for the airline, particularly for smaller airlines.
“Any flight cancellation is a painful event, and every rescheduling is bad,” he said. “We are really trying to prevent it, but the burden is huge. We will pay charges whether the plane is flying or not, it’s like killing our business but passengers would not understand this. Operating a small airline in Nigeria is extremely dangerous, we are the second largest airline in Nigeria and we are trying to grow fast to avoid all these.”
Despite these challenges, Ibom Air is committed to deepening its collaboration with travel agents, who have contributed 6% to the company’s revenue in the last six months. Uriesi praised the agents for their loyalty and outstanding performance, saying that they are key to the growth of the airline.
“We are holding this forum to say to you we recognized, we are saying the agents people are extremely key to our business and in just six months, we are already six percent ready, it’s climbing very fast, by the end of the year you’re already talking about 11 to 12 percent of revenue,” he said. “Your feedback is extremely important to us and we hope that you will work with us so that we can do mutually beneficial business together.”
The airline’s goal is to increase its revenue and expand its operations, following the example of other successful airlines in Africa. “We want to do what Asky has done in Lome,” Uriesi said. “Africa has the power, the numbers, and passengers but to do this business, it takes time, discipline and determination, you must follow the process.”
