The Namibia Airports Company (NAC) has achieved a profit of N$40 million after tax for the 2023/24 financial year, marking a significant milestone in its recovery and growth.
This was announced by NAC board chairperson Leake Hangala at the company’s annual general meeting in Windhoek on 30 September.
He said the results demonstrated a shared commitment to the company’s strategic direction.
“The company continued the profit-making trajectory, recording an increase in profit from N$19,4 million recorded in 2023 to N$40,8 million in 2024,” Hangala said.
According to a statement issued by company spokesperson Dan Kamati yesterday, the NAC is currently operating at approximately 92% of pre-Covid levels in terms of overall passenger volumes.
The statement highlighted that for three consecutive years, the company had received a clean audit.
Chief executive Bisey /Uirab said: “The NAC demonstrated resilience and determination, navigating challenges while forging a strategic direction.”
He said the financial performances attained signify the company’s dedication to ethical and sustainable growth.
These performances include the attainment of long-term operating certificates for the Hosea Kutako and Walvis Bay international airports, in line with the Namibian Civil Aviation regulatory requirements, which are valid until 5 December 2025.
“Namibia recorded improved passenger volumes for the financial year-to-date period April 2024 to June 2024 of 277 636, compared to 249 322 for the 2023/24 financial year, and 308 652 for 2019/20,” /Uirab said.
In addition, he said Namibia attained an overall effective implementation score of 72.31% on the International Civil Aviation Organisation’s universal safety oversight audit programme continuous monitoring approach from 6 to 18 March this year, compared to 57.39% achieved in the last audit in 2016.
“The NAC hosted the Aviadev Africa Conference in June 2024, with more than 400 delegates attending the event, which generated US$886 736 (about N$16 million) in direct expenditure in Namibia,” he said.
According to the statement, the other factor contributing to the company’s good performance is the introduction of new routes, with more planned.
Discover Airlines of the Lufthansa Group plans to introduce a new route from Munich to Windhoek on 1 April 2025, with three flights per week.
Air Botswana’s inaugural route, the Windhoek-Gaborone route, was set to commence this month, with the Maun-Windhoek and Kasane-Windhoek route to commence in November 2024.
FlySafair will commence twice-weekly operations on 22 October from Cape Town to Windhoek.
The statement says the NAC is committed to improving its infrastructure to support the country’s national development initiatives and harness the natural resources brought by the recent oil and gas discoveries and the green hydrogen initiatives.
“The envisaged airport infrastructure developments include the establishment of a solar photovoltaic plant at Hosea Kutako International Airport (HKIA), and Eros and Andimba Toivo ya Toivo airports at a cost of N$9,5 million and developing master plans for all eight airports in the new financial year,” the statement says.
The NAC will also hold discussions with relevant stakeholders on the establishment of an aviation training school and finalise the transfer of land for the construction of new terminal buildings at Katima Mulilo, Rundu and Lüderitz airports.
The company also plans upgrading the parking management system at HKIA, Walvis Bay Airport and Andimba Toivo Ya Toivo Airport.
– email:matthew@namibian.com.na
Stay informed with The Namibian – your source for credible journalism. Get in-depth reporting and opinions for
only N$85 a month. Invest in journalism, invest in democracy –
Subscribe Now!
