Uganda Airlines’ expansion plan to dominate the aviation industry has been met with financial hurdles after a new Auditor General’s report unearthed the Airlines’ performance for the Financial Year 2023/24 showing a net loss of UGX 238 billion, which is a 26 percent% drop from the UGX 325 billion loss incurred in 2023. The sustained losses according to the Auditor General threatens financial sustainability and shareholder value for the airline. The national carrier also disclosed contingent liabilities of UGX.12 billion (USD 3.15 million), primarily relating to pending court cases which is likely to expose the company to significant legal costs,…
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