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Uganda Airlines is on track to financial independence, with a substantial increase in its revenue generation over the past two years.
In the 2022-2023 fiscal year, the airline saw a 29% growth in its revenue.
This growth accelerated in the 2023-2024 year, with the airline's revenue jumping by 54%, rising from $63 million to $97 million.
This success has been driven primarily by internally generated revenue, including ticket sales and cargo services, highlighting Uganda Airlines' strong performance and positive trajectory.
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Adedayo Olawuyi, the airline's Chief Commercial Officer, told the national broadcaster UBC, "We are presently generating 90% of what we are expending, and what we are getting from the government comes in only to support our operations because the aviation industry is very cost-intensive."
This achievement marks a major milestone as Uganda Airlines approaches the point where it can sustain itself entirely through its own operations, without relying on substantial government subsidies.
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Expansion into Global Markets with the London Gatwick Route
In addition to its financial growth, Uganda Airlines is expanding its international network, with a new route to London Gatwick set to launch in May 2025.
The airline will operate direct flights between Entebbe International Airport and London Gatwick four times a week, using its Airbus A330-800neo aircraft. This new route is a significant development, re-establishing a direct air link between Uganda and the United Kingdom for the first time in nearly a decade.
This expansion strengthens Uganda Airlines' global presence, offering enhanced connectivity for trade, tourism, and investment between Uganda and the UK.