IBOM AIR HOLDS FIRST PUBLIC AGM, RECORDS MAJOR PROFIT GROWTH AND MANAGEMENT TRANSITION

Ibom Air, the Akwa Ibom State-owned airline, has held its first-ever public Annual General Meeting (AGM), a move initiated by Governor Umo Eno to promote transparency and strong corporate governance across state-owned enterprises. At the meeting held at the Four Points by Sheraton, Ikot Ekpene, the airline reported a revenue increase from ₦67 billion in 2023 to ₦96 billion in 2024, with net profit rising to ₦6.8 billion after a previous year’s loss.
Former Chairman of the Board, Mr. Imo-Abasi Jacob, reflected on the airline’s resilience despite currency devaluation challenges. Governor Eno, in his address, reaffirmed support for the airline and announced key management changes: Captain Mfon Udom, the founding CEO, is now Board Chairman, while George Uriesi assumes the role of Acting CEO.
Ibom Air, founded in 2019, operates a fleet of seven CRJ 900s and two Airbus A220-300s, flying to domestic destinations and Accra, Ghana. Governor Eno expressed hope for eventual partial divestment of state holdings to attract private investment.