President Museveni Seeks Domestic Financing For Airline Revival

President Museveni of Uganda is seeking domestic financing for the revival of Uganda Airlines as he rejects a request from the group’s board to push the launch date of June back to the end of the year. The launch date was postponed from April to June earlier in the year. 

Delivery of the airline’s first aircraft is expected by Bombardier later this month, with two Airbus A330-800 Neos scheduled for addition to the fleet next year. Staff training is on going. However, recruitment troubles has been rumoured, with salaries offered said to be much lower than those recommended by the business plan.

AfriExim Bank had previously offered to provide finance for the project at a rate of less than 6 per cent per annum. However, it appears the President is now determined to opt for domestic financing rather than a loan facility.