Ibom Air has projected a revenue of ₦150 billion for the 2025 fiscal year as part of its growth strategy to expand operations and increase profitability.
The airline’s Chief Operating Officer, George Uriesi, disclosed this during a presentation before the Akwa Ibom State House of Assembly’s Committee on Finance and Appropriation. Uriesi stated that the revenue projection is based on the expected performance of its expanded fleet and enhanced route network.
He noted that Ibom Air plans to acquire 10 Airbus A220-300 aircraft, with five expected to arrive in 2025. This addition will significantly boost the airline’s capacity and operational efficiency. According to him, the airline has also proposed a budget of ₦61.37 billion for the 2025 financial year, with ₦50.81 billion allocated for capital expenditure and ₦10.56 billion for recurrent expenses.
Uriesi explained that the budget would fund the continuation of the fleet expansion plan, route development, and other strategic initiatives aimed at strengthening the airline’s market position. He emphasised that Ibom Air remains focused on running a commercially viable and self-sustaining business, independent of government subvention.
Responding to questions from lawmakers, Uriesi assured that the airline is on track to meet its revenue target and become a major player in the domestic and regional aviation markets. He highlighted the progress made in fleet expansion, saying the first two Airbus aircraft would arrive in July and August 2025, while the remaining three would follow by the end of the year.
The Chairman of the House Committee on Finance and Appropriation, Uduak Ududo, commended Ibom Air’s leadership for its strategic approach and encouraged the management to sustain the pace of growth. He said the Assembly would provide legislative support to ensure the airline’s goals are achieved.
