Ibom Airlines Limited (Ibom Air), has announced key leadership changes following its first public Annual General Meeting (AGM) held on Wednesday, June 25, 2025, at Four Points by Sheraton Hotel in Ikot Ekpene, Akwa Ibom State.
The major highlight of the meeting, presided over by the shareholder, Governor Umo Eno of Akwa Ibom State, was the appointment of Mr. Mfon Udom, the airline’s pioneer Chief Executive Officer (CEO), as the new Non-Executive Chairman of the Board.
Also, Mr. George Uriesi, who was serving as the Executive Director and Chief Operating Officer, has been appointed Acting Managing Director and Chief Executive Officer.
Governor Eno, who announced the appointments during the well attended AGM, praised Ibom Air’s strong performance and reaffirmed his support for the airline, which is fully owned by the state government.
He assured that he would continue to support the airline to continue to wax stronger till gets to the point when the government can divest some of its shareholding to make way for new investors to come into the organization.
He explained that the public AGM was held to promote transparency and showcase Ibom Air’s commitment to good corporate governance, which he said he hopes will serve as a model for other state-owned enterprises.
In his speech at the event, the outgoing Chairman, Mr. Imo-Abasi Jacob, thanked the Akwa Ibom State Government and the airline’s customers for their trust and support over the years, noting that Ibom Air bounced back strongly from the financial challenges of 2023 to record impressive results in 2024.
According to the financial report presented, the airline grew its revenue by 43%, from N67 billion in 2023 to N96 billion in 2024, and turned a N3 billion loss in 2023 into an operating profit of N16.6 billion in 2024. Net profit stood at N6.8 billion, a significant improvement from the N8.7 billion loss the previous year.
Ibom Air, which marked its 6th anniversary on June 7, 2025, currently operates a fleet of nine aircraft – seven CRJ 900s and two Airbus A220-300s – and flies to six cities within Nigeria as well as Accra, Ghana.
The AGM ended on a positive note, with stakeholders expressing renewed confidence in Ibom Air’s growth plans, including expanding regional routes, improving operations, and attracting future investors.
