Ibom Air has made history by holding its first-ever public Annual General Meeting (AGM) in Ikot Ekpene, Akwa Ibom State. The event, which took place on June 25, 2025, at the Four Points by Sheraton Hotel, marked a significant milestone in the airline’s journey towards transparency and corporate accountability.
According to Governor Umo Eno, PhD, the Shareholder, the public AGM aims to showcase Ibom Air’s strong corporate governance and serve as a model for all Akwa Ibom State-Owned Enterprises. The meeting brought together key stakeholders to review the airline’s operational and financial performance over the past year.
Ibom Air’s revenue increased by 43% from N67 billion in 2023 to N96 billion in 2024. The airline’s operational profit swung from a N3 billion loss in 2023 to a N16.6 billion profit in 2024. Ibom Air recorded a net profit of N6.8 billion in 2024, compared to a net loss of N8.7 billion the previous year.
Ibom Air’s pioneer CEO, Captain Mfon Udom, has been appointed as the new non-executive Chairman of the Board. Captain Udom played a crucial role in developing the airline’s business plan and led it from inception. Meanwhile, Mr. George Uriesi, the current Executive Director and Chief Operating Officer, has been appointed as Acting Managing Director and Chief Executive Officer.
Governor Eno expressed satisfaction with Ibom Air’s performance over the years and assured the airline of continued support to succeed. The Governor also hinted at the State Government’s plan to divest some of its shareholding and bring in new investors.
The AGM concluded with renewed confidence in Ibom Air’s vision to become Africa’s airline of choice, focusing on regional connectivity, operational sustainability, and stakeholder value. Ibom Air is a Limited Liability Company wholly owned by the Akwa Ibom State Government, committed to setting the benchmark as the airline of choice for passengers. Its fleet now includes nine aircraft: seven CRJ 900s and two Airbus A220-300s. Ibom Air serves six domestic destinations and Accra, Ghana, committed to offering schedule reliability, on-time departures, and excellent service. Ibom Air celebrated 6 years of operations on June 7, 2025.
