Ibom Air is targeting ₦150 billion in revenue by the end of 2025, up from ₦96 billion last year, and it wants travel agents to help make it happen.
The airline, owned by the Akwa Ibom state government, has set a specific revenue goal of doubling the contribution of travel agents, which currently stands at 6%, to about 12% by year-end. The shift signals a commercial strategy that is aimed at deepening partnerships with independent ticket sellers as the carrier scales operations across Africa.
“We are already at 6% from travel agents in just six months,” said Managing Director George Uriesi at the company’s Travel Agents Forum in Lagos. “It’s climbing very fast, and by the end of the year, we’re talking 11 to 12 percent of revenue.”
The meeting was part of the airline’s broader campaign to strengthen market distribution and improve its booking efficiency. To that end, Uriesi confirmed that Ibom Air will join the Global Distribution System (GDS) by October 2025, expanding its reach to international ticketing platforms—a move that could enable more global partnerships and cross-border bookings.
Remarkable recovery
The renewed push for revenue and reach follows a remarkable recovery in 2024, after Ibom Air posted a ₦6.8 billion net profit, bouncing back from an ₦8.7 billion loss in 2023. Revenue grew 43% to ₦96 billion, while operating profit surged to ₦16.6 billion. Uriesi attributed the turnaround partly to disciplined growth, fleet expansion, and a strong emphasis on on-time performance and customer experience.
Still, challenges remain. Flight cancellations, foreign exchange volatility, and operating costs threaten margins—especially for smaller airlines, Uriesi noted.
“Any flight cancellation is a painful event,” he said. “We pay charges whether the plane is flying or not. It’s like killing our business, but passengers would not understand this. Operating a small airline in Nigeria is extremely dangerous.”
The airline currently operates nine aircraft and serves seven destinations, including Accra, Ghana. It plans to expand to Malabo, Douala, and São Tomé, and begin flights from a newly completed terminal in Uyo, designed to serve as a major regional hub.
“This terminal is the only hub terminal in the country, and we plan to match it with the best aircraft in the world,” said Uriesi. “But above all, we want to establish reliability.”
He said the company was inspired by regional players like Asky Airlines, based in Lomé, and is building a pragmatic path to scale across Africa. “Africa has the numbers, but to do this business, it takes time, discipline and determination. You must follow the process.”
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