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Air Peace Buys 10 New Boeing Aircraft

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  • Air Peace Buys 10 New Boeing Aircraft

A domestic airline, Air Peace, on Thursday signed a deal with a United States-based airline manufacturer, Boeing, for the purchase of 10 new aircraft.

The Chairman and Chief Executive Officer, Air Peace, Mr Allen Onyema, said the order would arrive very soon, adding that the airline’s fleet of aircraft had risen to 37.

At the signing ceremony for the sale of the 10 new Boeing 737 MAX aircraft at the US Consul General’s residence in Lagos, Onyema said Air Peace had achieved another first, describing the firm as “the first West African airline to own the latest Boeing innovation.”

He stated, “We have a firm order for 10 aircraft. By so doing, Air Peace has joined the big league. We are doing this because we are interested in creating massive job opportunities; one Boeing 737 MAX aircraft can give jobs to over 500 people. We are looking at the teeming unemployed youths in Nigeria.

“When you are buying a brand new aircraft, it comes with some package to help the operator undertake the new entry into its operations. Boeing has given us a lot of incentives. Those incentives will come in the way of training, spares and some other support to help us achieve a smooth transition.”

Onyema, who declined to state the total amount being paid for the 10 aircraft while answering questions from journalists, said the price of each was around $130m.

He added, “We are not even paying anything near it ($130m). The support we are getting from Boeing and the American government is very massive.

“As of today, we have 27 aircraft. There are some that we purchased that are not yet in the country. So, if you add the new order, the number of our aircraft is 37. Air Peace will be four years old operation-wise in October.”

According to him, the Boeing 737 MAX aircraft will help reduce the fuel costs being incurred by the airline.

Onyema said, “The Classic we are using are rugged planes, very powerful and safe. However, the fuel consumption of the Classic is enormous. What you put in to fly from here to Abuja, you can use it in a Boeing 737 to go to Australia and come back. So, you can see the savings we are going to make. Fuel, they say all over the world, takes about 40 per cent of your cost of operation.

“But I disagree; in Nigeria, it takes about 70 per cent, because they can wake up this morning and give you one price. As your flight is landing in Abuja, they may change their price and give you another price. By the time the aircraft is coming back in the evening, you may be having another price.”

The Air Peace boss, therefore, called on the government to do something about ramping up domestic refining, adding, “Let’s deregulate the industry. I support having refineries that produce aviation fuel for the country so that the cost of running airline operations will come down.”

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Appointments

Siemens Energy Nigeria Appoints Seun Suleiman as Managing Director

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Seun Suleiman is the New Managing Director of Siemens Energy Nigeria

Mr. Seun Suleiman is the new managing director of Siemens Energy Nigeria, the company announced on Wednesday.

According to the statement released by the energy company, Suleiman will be responsible for the entire management of operations and decisions on business policies and corporate strategy.

Commenting on his appointment, Suleiman said, “It is an absolute honor to lead the business for Siemens Energy Nigeria and I look forward to delivering on the brand’s promise of excellence.

Suleiman joined Siemens Energy in 2014, bringing over 15 years’ experience and deep expertise in the private sector across Europe and West Africa.

The statement said, “He is an accomplished business strategist and success-driven leader with strong business acumen. Suleiman has also been a core member of the executive management team at Siemens Energy serving in roles as Sales Director West Africa – Service Distributed Generation Oil & Gas and Vice President Service & Digital.

“Prior to this, he also held various functional and managerial positions with ABB Ltd UK, ABBNG Nigeria, Schneider Electric Nigeria and Dresser-Rand Nigeria Ltd.

It added that Suleiman was experienced in establishing operational excellence with specific competence in the power, oil and gas sectors.

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FG Reopens Osubi Airport Warri for Daylight Operations

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FG Reopens Osubi Airport Warri for Daylight Operations

The Federal Government on Monday said the Osubi Airport in Warri has been reopened for daylight operations.

The Minister of Aviation, Hadi Siriki, disclosed this in a tweet.

The airport was closed in February 2020 over mismanagement and debt allegation involving aviation service providers and airport management.

However, Oberuakpefe Afe, a lawmaker representing Okpe/Sapeie/vaie federal constituency, recently moved a motion for the Federal Government through the ministry of aviation and relevant authorities to reopen the airport for flight operations.

On Monday, Hadi Siriki said “I have just approved the reopening of Osubi Airport Warri, for daylight operations in VFR conditions, subject to all procedures, practices and protocols, including COVID-19, strictly being observed. There will not be need for local approvals henceforth.

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Nigerian Brand, JR Farms Acquires 11% Stake in Rwandan Firm

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Nigerian Brand, JR Farms Acquires 11% Stake in Rwandan Firm

JR Firms, an agribusiness firm with headquarters in Nigeria, has announced partnership with Sanit Wing Rwanda through the acquisition of 11 per cent stake in the company.

The CEO of the company, Mr Rotimi Olawale, explained in a statement that the partnership was in furtherance of its goals to ensure food security, create decent jobs and raise the next generation of agrarian leaders in Africa.

The stake was acquired through Green Agribusiness Fund, an initiative of JR Farms designed to invest in youth-led agribusinesses across Africa.

Sanit Wing Rwanda is an agro-processing company that processes avocado oil and cosmetics that are natural, quality, affordable, reliable and viable.

The vision of the company is to become the leading producers of best quality avocado and avocado by-products in Africa by creating value across the avocado value chain.

With focus on bringing together over 20,000 professional Avocado farmers on board and planting of three million avocado trees by 2025 through contract farming, the company currently works with One Acre Fund in supply of avocado to its processing facility.

The products of the company which include avocado oil, skin care (SANTAVO), hair cream and soap are being sold locally and exported to regional market in Kenya.

With the new partnership with JR Farms- the products of the company will enjoy more access to markets focusing on Africa and the European Union by leveraging on partnerships and trade windows available.

Aside funding, the partnership comes with project support in areas of market exposure, capacity building, exposure and other thematic support to grow the business over the next four years.

JR Farms has agribusiness operations in Nigeria, Rwanda, United States and Zambia respectively.

In Nigeria, the company deals in cassava value chain processing cassava to national staple “garri” which is consumed by over 80 million Nigerians on daily basis, while in Rwanda, it works in the coffee value chain with over 4,000 coffee farmers spread across the East Central African country.

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