Cornwell Muleya, Technical Officer Uganda Airlines, said that the Uganda Airlines will produce its first profits in 2029, while in a meeting with the Parliamentary Budget Committee.
According to Muleya even when recapitalisation is done, Uganda Airlines will start making profits in 2029.
Muleya made the remarks on Tuesday 21st of May 2019, at the Budget Committee of parliament where he had appeared to defend the Uganda Airlines Budget of 575 billion shillings.
“When you start initially, you have few passengers until you entrench yourself in the market. We will require some time to build confidence from the passengers and suppliers,” Muleya explaining.
Muleya further said that if recapitalisation fails, Uganda Airlines will fail too because the foundation will be weak. At time Muleya says they need to build a firm foundation if at all the Airline is to stand and continue running.
However, after his presentation, the Parliamentary Budget Committee asked Muleya and the Permanent Secretary in the Ministry of Works and Transport, Mr Wasswa Bageya to break down their budget and after present it to the committee before their approval.
In their further remarks, the Committee told them to create a substantial committee that will be responsible for proper accountability at the Airlines.
The two newly purchased CRJ900 Bombardier Planes, will begin its operation in July 2019. These two planes are part of the six planes Uganda expects to receive.
This will mark the revival of the Uganda Airlines since it’s collapse 20 years ago.