Air Nigeria to launch IPO in 2014

Victoria
By Victoria May 21, 2012 10:55

Air Nigeria to launch IPO in 2014

Management of Air Nigeria plans to list the carrier on the Nigeria Stock Exchange and sell the shares to the Nigerian public by 2014.
Chairman Jimo Ibrahim stated that the Nigeria Stock Exchange had invited the company to be listed under the special registry.
Ibrahim has also called on the Federal Government to partner with the private sector to establish a maintenance facility in Nigeria. He says Nigerian airlines would save millions if they were able to maintain their aircraft in the country instead of transporting them overseas.

Air Nigeria plans to focus on international routes, as Ibrahim confirmed: “Our plan is to focus on international operations as an airline. No airline succeeds by flying only domestic. If an aircraft flies to Abuja 10 times a day, it loses its life cycle ten times. In other words, it is 10 times closer to a C-check. All the major international airlines like British Airways, Air France and KLM make profit by focusing on international operations.
“We will take delivery of another aircraft in 20 days from now-An Airbus A330-200. We will then have two aircraft in our international operations. And this aircraft will be deployed to the Lagos-Dubai route”, he said

Victoria
By Victoria May 21, 2012 10:55
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