Uganda Airlines prepares for long-haul services as auditor details losses

Uganda Airlines has turned in a USh102.4b ($27.4m) post-tax loss for its most recent financial year, after falling far short of revenue projections. The Ugandan auditor general has revealed the figure in a newly-released submission to parliament on the financial performance of 13 state enterprises in the year to 30 June 2020. Seven of the 13 entities suffered performance reductions as a result of the pandemic, the auditor general says, and Uganda Airlines was the worst-performing of the five entities which generated a loss. “The company was unable to realise its planned revenue, yet the expenditure on operations was way above projected costs,” its analysis found. Uganda Airlines generated revenues of $9.98m, just over 10% of the expected $92.8m, but spent $29.2m on direct costs and another $3.6m on indirect costs.<br/>