By Solomon OKPO
Uyo, In a landmark event underscoring transparency and corporate accountability, Ibom Airlines Limited (Ibom Air) on Tuesday held its first-ever public Annual General Meeting (AGM) at the prestigious Four Points by Sheraton Hotel, Ikot Ekpene, Akwa Ibom State.
The AGM, convened at the directive of the airline’s sole shareholder, Governor Umo Eno, PhD, marked a significant step in showcasing the airline’s strong corporate governance and financial performance. The Governor stated that the decision to open the AGM to the public was to set a governance benchmark for all State-Owned Enterprises in Akwa Ibom State.
The outgoing Chairman of the Board, Mr. Imo-Abasi Jacob, in his valedictory remarks, expressed gratitude to the Akwa Ibom State Government, loyal customers, and stakeholders for their support during his tenure. He reaffirmed Ibom Air’s commitment to industry-leading standards in safety, punctuality, and service quality.
One of the highlights of the AGM was the impressive financial report. The airline reversed its previous year’s loss of ₦8.7 billion in 2023 to a net profit of ₦6.8 billion in 2024. Revenue surged by 43%, rising from ₦67 billion in 2023 to ₦96 billion in 2024, while operational profit climbed from a ₦3 billion loss to a ₦16.6 billion profit within the same period.
In his remarks, Governor Eno commended the airline’s performance over its six years of operation and reiterated the state government’s continued support. He noted that the long-term goal remains to attract private investment and partially divest state ownership in the airline.
The AGM also featured key leadership transitions. The Governor announced the appointment of the airline’s pioneer Chief Executive Officer, Captain Mfon Udom, as the new non-executive Chairman of the Board. Captain Udom, who initially developed the business plan for the airline and led it from inception, is succeeded in an acting capacity by Mr. George Uriesi, the current Executive Director and Chief Operating Officer, as Acting Managing Director and CEO.
Both Udom and Uriesi were instrumental in building the airline’s operational framework, with their collaboration dating back to the planning and establishment phase.
The meeting concluded with a renewed pledge to position Ibom Air as Africa’s airline of choice, with a strategic focus on expanding regional routes, ensuring operational sustainability, and delivering long-term stakeholder value.
Ibom Air currently operates a fleet of nine aircraft—seven CRJ 900s and two Airbus A220-300s—serving six domestic routes and one regional destination in Accra, Ghana. The airline celebrated its sixth anniversary of operations on June 7, 2025.
For more details, visit: www.ibomair.com
Media Inquiries: mediarelations@ibomair.com.
