The Chief Executive Officer of the Uganda National Airlines Company, Jenifer Bamuturaki has said that the national flag carrier needs at least three more years to break even.
According to reports by the Auditor General, Uganda Airlines’ financial performance was poor for the last three consecutive financial years. They posted huge losses; 104 billion Shillings in FY 2020/21, 164 billion in FY 2021/22, and 234 billion 2022//23 – all totaling 502 billion Shillings.
The Auditor General’s reports which were submitted to Parliament prompted further scrutiny of the operations of the Airlines by the Public Accounts Committee on Commission, Statutory Authorities, and State Enterprises – COSASE to help shape the entity’s strategic plan.
In an interview, Bamuturaki explains that while the audit reports portrayed the airline negatively, the losses the entity recorded during the period under review were justifiable, citing inevitable variables and administrative costs.
To curb losses, Bamuturaki says the company has invested in managing the cost of fuel and oil, maintenance, rentals, and crew through personnel training, process automation, airplane seat configuration, and extension of routes…
