Uganda Airlines to make first profit in 2029.
The newly revived national carrier is expected to register its first profit in 2029, Mr Cornwell Muleya, the Uganda Airlines chief technical officer, has said.
He made the revelation while appearing before the Budget Committee of Parliament chaired by Ntenjeru North MP Amos Lugoloobi to defend the Shs575b budget proposals for the airline yesterday.
Mr Muleya said the national carrier will require some time to build confidence from passengers and suppliers, even after recapitalisation.
“When you start initially, you have very few passengers until you entrench yourself in the market,” he said.
Mr Muleya said if the funds are availed, the national carrier will be able to operate and smoothly break even in seven years, and then register a profit after 10 years after which it will be able to run stably.
“The plan is recapitalisation and this is why the collapse of many airlines is because of undercapitalisation because they don’t factor in the period you operate without needing a lot of money,” he said.
“If we don’t get these funds, we will not be able to do this and you will not succeed because the foundation is going to be weak,” he added.