United Nigeria Airlines has revealed plans to list on the Nigerian Exchange (NGX) within the next three to five years as part of its medium-term growth strategy.
The announcement was made on Thursday by the airline’s Executive Chairman, Obiorah Okonkwo, during the carrier’s fifth anniversary world press conference. Okonkwo said the move to the equities market is intended to reduce financing costs, which are currently high due to bank loans carrying interest rates of 30–35 percent.
“Aircraft is a high-cost equipment, and a N100 billion loan at 30 percent interest means paying N30 billion annually in interest alone,” he explained. “Equity reduces the cost of capital, but we need to ensure proper corporate governance and financial compliance before inviting external investors.”
Okonkwo also announced that United Nigeria Airlines will expand its regional and international routes between Q2 and early Q3 of 2026. Notably, the airline plans to commence direct flights from Lagos to New York by the end of Q2. To support this route, it has acquired two A330-200 wide-body aircraft, with the first delivery scheduled for July 26.
Additionally, six 737-800 aircraft have been acquired to service regional and continental destinations, including Dakar, South Africa, Dubai, and Jeddah. The first two of these aircraft are expected to be delivered by March 1, 2026.
The airline began regional and international operations on August 25, 2025, with services to the United Kingdom, United States, UAE, South Africa, Senegal, and Ghana. To enhance commercial reach, United Nigeria Airlines recently signed a global distribution agreement with Sabre Central and West Africa, enabling its fares and inventory to be available on the Sabre travel marketplace, further supporting its expansion plans in Nigeria and beyond.
