United Nigeria Airlines Seeks N20bn Funding via Commercial Paper

United Nigeria Airlines is launching a N20bn funding initiative through the commercial paper market as part of its financial strategy. The airline plans to issue Series 1 and Series 2 commercial papers with tenors of 270 days and 364 days, respectively, under a N100 billion commercial paper programme.

The airline's fundraising effort aligns with its five-year growth strategy, which includes expanding domestic, regional, and international operations through additional aircraft, new international routes, and partnerships with global travel distribution platforms.

United Nigeria Airlines reported H1 revenue of N95.6bn, reflecting its ongoing efforts to enhance operational capacity and broaden its route network. The proposed issuance marks the airline’s entry into Nigeria’s commercial paper market for short-term funding.