…as annual profit more than doubles to N$23.4 million
The Namibia Airports Company (NAC) is targeting annual revenue of N$1 billion and passenger traffic of 2.5 million by 2031, as the state-owned airport operator plans to expand infrastructure, commercial operations and cargo services over the next five years.
The targets form part of NAC’s Integrated Strategic Business Plan for 2026 to 2031, which seeks to increase revenue by approximately 75% from the N$570 million recorded in the financial year ended 31 March 2026.
The company will also need to more than double its annual passenger traffic from the 1.13 million recorded during the reporting period to achieve its 2031 target.
According to NAC, the five-year strategy will prioritise airport infrastructure development, the expansion of commercial and cargo operations, digital transformation and improvements in passenger services.
The company also intends to incorporate environmental, social and governance measures into its operations while maintaining profitability.
The targets were announced following NAC’s 2025/26 Annual General Meeting, where the company reported a 5.5% increase in revenue to N$570 million.
Profit after tax increased by approximately 146% to N$23.4 million, compared with N$9.5 million in the previous financial year.
NAC also reported cash reserves of N$353.2 million, supported by operating cash flows of N$136.9 million.
The improved financial performance enabled the company to declare a dividend of N$7.8 million to the Namibian government, its sole shareholder, marking its first dividend in 20 years.
NAC Board Chairperson Rosalinde Nakale said the dividend reflected improvements in the company’s financial management and operational performance.
“This dividend reflects the success of NAC’s transformation efforts, prudent financial management, and our commitment to creating value for Namibia through responsible stewardship of national assets,” Nakale said.
Chief Executive Officer Bisey /Uirab said the company’s financial position would allow it to continue investing in infrastructure while maintaining profitability.
“The dividend demonstrates NAC’s ability to balance profitability, investment, and service delivery while continuing to invest in infrastructure, customer experience, and sustainability,” he said.
The company said its cash reserves provided sufficient financial buffers to support ongoing operations and maintain its ability to continue as a going concern.
Minister of Works and Transport Veikko Nekundi welcomed the dividend declaration, saying the funds would contribute to government spending on public services.
“This dividend will go a long way to help fund hospitals, clinics, schools, roads and other public services. The government remains committed to supporting NAC at all material times in its mission to provide sustainable and world-class airport infrastructure and services,” Nekundi said.
He said the government would continue providing oversight and strategic guidance to support the development of Namibia’s aviation sector.
NAC said its planned investments and commercial expansion would support its objective of positioning Namibia as a regional aviation and logistics hub while sustaining profitability through 2031.
