From Isaac Job, Uyo
Ibom Air has announced Mr George Uriesi as the new Acting Managing Director and Chief Operating Officer of the company and posted an operational profit of N16.6 billion during its first Annual General Meeting (AGM), against a loss of N3 billion recorded in the 2023 business year.
A statement issued in Uyo at the end of its maiden Annual General Meeting, signed by the Group Manager, Marketing and Communication, Aniekan Essienette, also announced the appointment of the pioneer Chief Executive Officer (CEO), Mr Mfon Udom, as the non-executive Chairman of the Board of the company.
The statement reads in part: “The Shareholder also used the opportunity to announce the appointment of the pioneer CEO of the Company, Mfon Udom, as the new non-executive Chairman of the Board and the appointment of the current Executive Director and Chief Operating Officer, Mr. George Uriesi, as Acting Managing Director and Chief Executive Officer.
“Mr. Udom was the consultant to the Akwa Ibom State Government that put together the business plan for Ibom Air. He was then saddled with the responsibility as CEO to establish the airline and to build it into what it has become today.”
Essienette said the Annual General Meeting, held at Four Points by Sheraton Hotel in Ikot Ekpene, provided a comprehensive overview of Ibom Air’s operational and financial achievements over the past year, including notable milestones in route expansion, fleet growth, and customer satisfaction.
She said the former Chairman of the Board, Mr Imo-Abasi Jacob, in his remarks, appreciated the shareholder, Akwa Ibom State Government, and the airline’s loyal customers for their continued confidence and support and reaffirmed Ibom Air’s mission to maintain its industry-leading standards in safety, on-time performance, and service quality.
Essienette explained that the former chairman told the shareholder that Ibom Air recovered from the loss position recorded in 2023 due to the collapse of the naira against the US dollar to a strong position of profitability in 2024.
“Revenue grew 43% from N67b in 2023 to N96b in 2024, and operational profit grew from a loss position of N3b in 2023 to a N16.6b profit in 2024. Net profit in 2024 was N6.8b, against an N8.7b loss in 2023.”
Essienette said the shareholder of Ibom Air and governor of Akwa Ibom State, Pastor Umo Eno, in his address at the AGM, expressed his satisfaction with the performance of Ibom Air over the last six years.
“Let me assure the airline that the government would continue to support their operations to succeed, such that the state government can successfully divest some of its shareholding and bring new investors.”