Ibom Air has achieved a significant financial milestone, posting a revenue of N96 billion and a net profit of N6.8 billion in 2024, after suffering a net loss of N8.7 billion in 2023.
The development was made known during the airline’s first public Annual General Meeting held on Wednesday, 25 June 2025, at Four Points by Sheraton, Ikot Ekpene, Akwa Ibom State.
The meeting was convened at the request of Governor Pastor Umo Eno, to promote transparency and showcase the performance of the state-owned airline, according to Nigerian Flight Deck.
Chairman of the companies board, Mr Imo-Abasi Jacob, who addressed stakeholders before stepping down from his role, said the airline had recovered from setbacks caused by the Naira’s collapse against the US Dollar.
After challenges due to the Naira’s collapse against the US Dollar, the airline rebounded, he said.
He noted that revenue rose by 43 percent, from N67 billion in 2023 to N96 billion in 2024. He added that operational profit also improved sharply from a loss of N3 billion in 2023 to a profit of N16.6 billion in 2024.
- Editor
- Editor
