United Nigeria Airlines plans to list on the Nigerian Exchange within three to five years, aligning with its medium-term growth strategy, the airline said.

Executive Chairman Obiorah Okonkwo made the announcement on Thursday during the carrier’s fifth-anniversary global press conference.

“It is our midterm plan. Trust us, within the next three years, five years, we will be on the stock exchange,” the chairman said.

“We have to be very prepared for that, but it is in our plan.”

Explaining the rationale for the planned listing, Obiorah Okonkwo said accessing the equities market would significantly lower financing costs, which he described as “huge,” noting that bank loan interest rates currently range from “30 percent to 35 percent.”

He added that airline operators have urged the government to establish a single-digit interest window specifically for the aviation sector.

“Aircraft is a high-cost equipment, and to have a reasonable amount of loan to make an impact, you’re talking of billions. Let’s say a N100 billion loan from the bank, and you’re paying 30 percent interest.

“What it means is that without paying the principal, you’re paying the bank an interest of N30 billion every year. This translates to about $2 million monthly.

“So, for that reason, equity reduces the cost of capital, so we are open to it. But we are putting our house in order, because we’re talking about equity or going to the stock market, you’re inviting external people, and they must be happy to go to bed with you,” Okonkwo said.

The chairman added that the process requires significant work, emphasizing that the airline is fully complying with all regulatory requirements, including corporate governance and financial regulations.

He further announced that the airline will launch additional regional and continental routes between the second quarter (Q2) and early third quarter (Q3) of 2026.

He also revealed that direct flights from Lagos to New York are set to begin by the end of Q2.

“What it means is that by the end of the Second quarter of 2026, the United Nigeria will fly directly to New York,” he said.

Okonkwo stated that the airline has secured two A330-200 wide-body aircraft to operate non-stop flights from Lagos to New York, with the first plane expected to be delivered on July 26.

“Today, to support regional flights and continental flights that will take you to places like Dakar, South Africa, Dubai, Jeddah, we have acquired six 737-800 engine aircraft,” Okonkwo said.

The chairman said all six aircraft are scheduled for delivery before the end of Q2, with the first two expected to arrive within weeks.

“So by March 1, we would have taken delivery of the first two of the 737-800. You can see our hands are very full and we are working around the clock,” he added.