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Panic as Air Peace Aircraft Tyre Bursts During Take-off

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Air peace- Investors King
  • Panic as Air Peace Aircraft Tyre Bursts During Take-off

There was panic at the Nnamdi Azikiwe International Airport, Abuja on Sunday evening when the tyre of an Air Peace aircraft blew off and made a loud sound while it was already taxiing for take-off on the runway.

It was gathered that passengers on the aircraft, who were heading to Benin from Abuja, were terrified by the incident, as they stated that the pilot struggled to control the airplane before it was eventually towed to a safe location at the NAIA.

Impeccable sources at the airport also told our correspondent that it was a Boeing 737 aircraft belonging to Air Peace that was involved in the incident, which happened around 5:40 pm at the Abuja airport on Sunday.

“The aircraft was already running on the runway in preparation for take-off and suddenly one of the tyres blew off. The tyre burst while the plane was in the process to take off. This created panic among passengers but the pilot was professional enough as he controlled the plane before it was towed to a safe location,” a passenger, who simply gave his name as Johnson, said.

A source at the airport stated that “This happened around 5:40 pm and the airline is Air Peace. The aircraft involved is Boeing 737 and the tyre burst was so loud because the aircraft was already moving on the runway. This caused some form of panic among passengers and other people at the airport.

“The situation was, however, controlled and the plane was towed out of the runway and the terrified passengers alighted safely. The aircraft is out of use for now and engineers are now observing the plane at the airport.”

The spokesperson for Air Peace, Chris Iwarah, confirmed the development when contacted by our correspondent and stated that the airline’s engineers were deployed to check what happened to the aircraft.

He said, “What we had was a low speed reject and that means that the aircraft was taxiing when the pilot realised that one of the tyres had punctured and because of that he had to reject further taxiing for take-off. Now once this happens, the affected tyre will be changed; not by just anybody but by qualified engineers.

“However, the flight was from Abuja to Benin and once it is 6.30pm you can’t operate into Benin because of sunset. But if it were Port Harcourt, Kano, Abuja or Lagos airports, you could operate into any of them and to some extent Kaduna. But other airports in the country, once it is sunset you can’t operate into them.”

Iwarah added, “Now this incident happened close to sunset and when they were changing the tyre that got punctured, we realised that it was already sunset. So we had no option than to cancel the flight. This was done in time so that people could return to their homes before it gets dark.

“The flight was rescheduled to take off tomorrow (Monday). However, no specific time was given because Benin currently experiences a lot of weather issues and so we have to be sure about the time before we send it to the passengers. But we are certain that the flight is for tomorrow (Monday).”

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.

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Guinness Nigeria Returns to Profitability For the Quarter Ended September 2021

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Guinness - Investors King

The financial results of Guinness Nigeria for the quarter ended September 2021 show a return to profitability for the Beverages Giant during the period compared to a loss made in the prior period.

This return to profitability was driven by a huge jump in revenue from N30 Billion in the same quarter of 2020 to N47.4 Billion in 2021, although the cost of sales also increased from N23 Billion 2020 to N32.2 Billion filed in 2021 thereby giving an increase in gross profit from N7 Billion in 2020 to N15.2 Billion in the quarter under review

Guinness Nigeria increased its marketing and distribution expenses during the period, marketing and distribution expenses rose from N4.6 Billion in 2020 to N6.5 Billion in 2021. This led to a huge jump in Operating profit for the period, operating profit jumped from just N586 Million in 2020 to N6.5 Billion in 2021. This culminated in profit for the period rising to N4 Billion from a loss of N841 Million posted in 2020.

The Chairman, Board of Directors of Guinness Nigeria Plc, Dr. Omobola Johnson maintained that the Company will keep up with its growth strategy to continue on its path of profitability. He said “We are confident that our strategy is comprehensive and robust. We are keen on making the right investments that will drive growth across the board and ensure our competitiveness, despite the challenging business environment. We thank our shareholders for their confidence in the Board and Management of our dear company and we are committed to ensuring that we sustain the momentum.”

Guinness Nigeria is the Nigerian subsidiary of the Irish brand Guinness. Its principal activities continue to be brewing, packaging, marketing, and selling of Guinness Foreign Extra Stout, Guinness Smooth, Malta Guinness, Guinness Gold, Harp Lager, Smirnoff Ice, Satzenbrau Lager, Dubic Malt, Snapp, Orijin Spirit Mixed Drink, Orijin Bitters, Smirnoff Ice Double Black with Guarana, Orijin Zero, and Orijin Herbal Gin, Baileys Delight, Gordons Moringa among others.

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FBNHoldings Renews Adesola Adeduntan Tenure, Appoints Nnamdi Okonkwo as GMD

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Dr. Adesola Adeduntan - FirstBank CEO - Investors King

The Board of FBN Holdings Plc (FBNHoldings) has appointed the immediate past Managing Director of Fidelity Bank Plc., Mr. Nnamdi Okonkwo as its Group Managing Director.

Okonkwo’s appointment takes effect from January 1, 2022.

His appointment followed the retirement of Mr. U.K. Eke, who has completed his two-term tenure.

Uke, according to the board, tendered his Notice of Retirement on August 10, 2021

The Board further announced the renewal of the appointments of Dr. Adesola Adeduntan and Mr. Gbenga Shobo as the Managing Director and Deputy Managing Director of FirstBank respectively, for another term.

In the same vein, the Board announced the renewal of appointments of Mr. Kayode Akinkugbe and Mr. Taiwo Okeowo as the Managing Director and Deputy Managing Director of FBNQuest Merchant Bank Limited respectively, for another term.

“Uke’s retirement takes effect at the end of the current Financial Year on December 31, 2021. Mr. Eke’s retirement follows from a 35 years’ career in financial services, strategy, auditing, consulting, taxation, process reengineering and capital market operations.

“FBNHoldings Board has also announced that Eke will be succeeded by Mr. Nnamdi Okonkwo, a focused and result-oriented top banker, who will assume office as Group Managing Director, FBN Holdings Plc effective January 1, 2022,” Seye Kosoko, the Company Secretary said

Okonkwo, the immediate past Chief Executive Officer of Fidelity Bank Plc, brings to bear on the Board of FBNHoldings more than 30 years unbroken banking career spanning local and international experience. He has a wealth of experience in transformational leadership, business strategy development and visioning, innovative corporate governance and risk management.

He has led the transformation of banks, with the most recent being Fidelity Bank, where he led the management team for seven years to achieve remarkable results culminating in tripling profit and shareholder value.

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Are There Better Ways to Help Consumers Tackle Social and Environmental Problems?

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Consumers - Investors King

Techniques used by online microfinance platforms to spur user involvement could be useful in helping organisations to persuade people to behave in ways that benefit both society and environment.

Microfinance platforms have popularised the idea that ordinary people can become bankers to the poor. Communities of lenders get together every day to crowdfund microloans to disadvantaged micro-entrepreneurs by investing small sums of around only 25 dollars.

A new study digs into the universe of these microloan platforms to investigate how they manage to attract investors and perpetuate their enthusiasm for responding to social problems such as poverty.

Researchers from the Universities of Birmingham and Southern Denmark have identified two major ways through which platforms maintain and potentiate lending. Their findings are published in the Journal of Consumer Research.

Firstly, the platforms assemble resources that function as an ‘apparatus of affirmation’ – providing first-hand evidence of impact that help consumers imagine the benefits of their actions, thereby creating a sense of empowerment.

Secondly, the platforms translate complex and distant social problems, such as poverty, into personal encounters between lenders and borrowers – creating a sense of connection and familiarity via photographs, stories and loan updates. This set of techniques is theorised as the ‘apparatus of relatability’.

Co-author Dr Pilar Rojas-Gaviria, Lecturer in Marketing at the University of Birmingham, comments: “Organisations such as microlending platforms, which strive to mobilise responsible consumers, face two key challenges – overcoming the powerlessness felt when facing daunting problems, and removing a sense of disconnection from ‘faraway’ problems.

“Supplementing the power of ideas and knowledge with personal stories that inspire hope and aspiration, affinity and connection are powerful techniques that could be useful in inspiring consumers to more actively participate in efforts to tackle social and environmental problems, such as climate change.”

Through storytelling, imagery, platform design and communication, the researchers note that online microlending platforms nurture a feeling that genuine change is possible through affordable actions. They also develop a sense of affinity and empathy among potential investors with aspiring micro-entrepreneurs, particularly those from Low-and Middle-income Countries (LMIC).

For example, the platforms publish loan requests to showcase individual borrowers with first names, photographs, and short biographies. This personalised strategy effectively frames microlending as a virtual encounter with a borrower and their story of micro-entrepreneurship. Celebrities, such as actor Natalie Portman, have over the past years helped the microfinance industry to promote microloans as an act of hope that empowers resourceful poor in their efforts to escape poverty.

Co-author Domen Bajde, from the University of Southern Denmark comments: “The advent of online microlending has expanded the pool of potential investors to anyone with internet access and $25 to spare.

“After learning that lenders were more interested in ’emotional returns’ rather than financial profit from their loans, platforms began to dramatise microlending as an act of aspirational hope and affinity toward the entrepreneurial poor.”

The research is also significant for charitable giving, noting that donors are more likely to contribute when they see their donations as a way of empowering the disadvantaged and when donations are experienced as impactful investments.

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