By: Mohamed J. Bangura
The Sierra Leone Airports Authority (SLAA) is targeting annual revenue growth of up to 20 percent as part of its financial strategy to increase earnings, improve profitability and strengthen its long-term financial position through 2028.
The target was unveiled on Monday, September 21, 2026, at the Miatta Conference Centre in Freetown during a presentation on the Authority’s financial ratios and key budget targets as part of discussions on the FY2027 budget.
The presentation was delivered by Bryan Shylon, Deputy Director-General and Head of Finance at SLAA, who outlined the Authority’s recent financial performance, challenges and targets for the coming years.
Shylon said SLAA had recorded turnover growth of between four and five percent in recent years despite challenges in the aviation sector. He said management is now targeting annual revenue growth of between 10 and 20 percent, with 20 percent representing the upper end of the projected range.
According to the presentation, the revenue growth target is expected to be achieved through stronger revenue collection, increased commercial activities, better utilization of airport assets and the introduction of new business initiatives, particularly at Freetown International Airport in Lungi.
The Authority also plans to improve profitability following a challenging 2024 financial year, which was affected by major capital investments and increased operational costs.
One of the key indicators presented was Return on Total Assets, which measures how effectively an institution uses its assets to generate returns. SLAA projects that the indicator will reach 20 percent by 2026, compared with a target of 10 percent.
The Authority is also projecting an improvement in its Net Profit Margin, from a loss recorded in 2024 to eight percent in 2025 and 10 percent in 2026.
Management said the projected improvement would be supported by increased revenue mobilisation, improved cost management and the development of new commercial opportunities.
However, liquidity and working capital were identified as areas requiring particular attention. Management described the situation as a “Strong Concern Issue” and outlined measures to strengthen the Authority’s short-term financial position.
The liquidity pressures were partly attributed to major capital investments undertaken to upgrade Freetown International Airport and improve its facilities to international standards.
SLAA is targeting a healthier liquidity ratio of between 1.5 and 2.0, with improved revenue collection, prudent expenditure and expanded commercial activities expected to support the objective.
The Authority is also seeking to strengthen its solvency position by reducing liabilities while expanding its asset base.
The financial strategy places emphasis on revenue diversification, stronger financial controls, effective cost management and improved passenger services.
The financial targets form part of a broader strategy extending to 2028, as SLAA seeks to expand its revenue base while improving the efficiency and sustainability of airport operations.
The strategy is also expected to support the Authority’s continued provision of safe, efficient and reliable services to passengers, airlines and other users of Sierra Leone’s aviation facilities.