The Namibia Airports Company (NAC) has recorded a profit after tax of N$9.4 million for the 2024/25 financial year, supported by a 6% increase in revenue to N$540 million and an unqualified audit opinion for the fourth consecutive year.
The company presented its financial results during its Annual General Meeting (AGM) held in line with the Public Enterprises Governance Act (Act No. 1 of 2019).
The meeting was chaired by Dr. Leake Hangala and attended by the Minister of Works and Transport, Veikko Nekundi, NAC Chief Executive Officer Bisey /Uirab, members of the Board of Directors, senior management, and representatives from the Ministry of Works and Transport.
Dr. Hangala said the strong financial performance reflected the success of NAC’s route development strategy, which secured additional services from South African Airways, TAAG Angola Airlines, FlySafair, and Discover Airlines.
Increased flight frequencies to Hosea Kutako and Walvis Bay International Airports also drove passenger volumes to 1.1 million during the reviewed period.
Infrastructure upgrades were implemented to improve efficiency and reduce costs. Of particular note was the rollout of solar panel parking facilities that supply renewable energy to airports at a lower cost and with a smaller carbon footprint.
Despite these capital investments, NAC maintained its fee structure for a third consecutive year.
During the period under review, Hosea Kutako and Walvis Bay International Airports retained their long-term certification for international operations, while Andimba Toivo Ya Toivo and Eros Airports secured long-term domestic operating licences.
The re-certification of all airports is underway in collaboration with the Namibia Civil Aviation Authority to ensure compliance and operational continuity.
NAC said new services operated by Edelweiss and Proflight would commence in the next calendar year, linking Windhoek to Zurich and Lusaka respectively.
These routes according to NAC, are expected to boost connectivity, passenger volumes, and revenue. Engagements with major carriers will continue to unlock new passenger and cargo routes.
The company’s five-year plan prioritises sustainable infrastructure development, green energy integration, and operational digitalisation. Planned projects include the construction of Terminal 3 at Hosea Kutako International Airport, new commercial property developments to diversify income streams, and the finalisation of land transfers for new terminal buildings at Katima Mulilo, Rundu, and Lüderitz airports. NAC also aims to digitalise its operations to improve efficiency, passenger flow, and airport security.
Minister Nekundi commended NAC’s leadership and staff for their commitment and results.
“The government remains committed to supporting NAC at all material times in its mission to provide sustainable and world-class airport infrastructure and services. We will continue to offer guidance, oversight, and strategic alignment to ensure the aviation sector contributes meaningfully to the interests of the Namibian nation,” he said.
Dr. Hangala thanked the shareholder for continued trust and support, noting that the AGM demonstrated NAC’s commitment to ethical leadership and sound governance.
“This AGM reflects our collective commitment to ethical leadership, sound governance, transparency, accountability, and progress. We are proud of our achievements and remain focused on delivering continued value to Namibia’s people and economy,” he said.
