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Nairaland Forum / Nairaland / General / Travel / Bola Ahmed Tinubu's First Nation Airline Begins Operation (15713 Views)
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Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by manny4life(m): 1:58pm On Nov 15, 2011 |
Pukkah: IMO, given the situation of things, the airline business is a risky one; one that has to be thoroughly planned out and executed; however given the bold portion into consideration, I am hoping the banks or whoever financing this package for them are prepared in the case of default. I wish them luck and success. ![]() ![]() ![]() |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by DaDoctor: 2:02pm On Nov 15, 2011 |
ILEKE IDI AND EKO ILE HOPE NOW U AGREE THAT YOUR BOSS HAS USED HIS LOOT TO GET AN AIRLINE? THIS SETTLES YOUR ARGUMENTS AGAINST SAME LONG TIME AGO |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by Pukkah: 2:05pm On Nov 15, 2011 |
manny4life: This is what I have been trying to say. The default risk of an airline in Nigeria is very high and this will affect the flow of funding for the business. Even when the promoters own their own equity and are not in need of borrowing, the question they will ask themselves is: what's the expected rate of return on this business? If this question is not asked, or the negative answer ignored, that means the business is being undertaken for reasons other than strict business analysis, e.g. pure ego or money laundering. This is why I earlier wrote that I'm surprised that people are still going into aviation business in Nigeria while other sectors with higher return rates are available. |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by manny4life(m): 2:15pm On Nov 15, 2011 |
Pukkah: Exactly! I stressed the same concern few months ago when this was rumored that he bought this airline, if I recall at the time, it was rumored for $300million. I asked, if risk was calculated? I just asked so much questions that some proponents bega calling me names. Anyway, bottom line is that airline business IMO is so not a viable business. Even the ones here with high customer demand, low CASM with either average or low variables aren't performing so well. I guess it all boils down to business financial responsibility. I guess it's easy to sit and calculate 150 ppt x $100 per trip say Abuja, multiply total by 10 trips, oh wow it bring in revenue but cost (a very important factor) is solely underestimated. Well, I really wish them LUCK and SUCCESS, Let's hope and see how things work for them. Talking about other business, I would rather him approach NRC, sign a consortium agreement with a SW govt; fund the company and start a decent rail transport initiative with that same $30million. |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by Gbawe: 2:33pm On Nov 15, 2011 |
mustspin: Adeola is the founder of GT Bank. One would think, through the bank, he has gained vast knowledge and clout in the money Market. Would it then be difficult to raise this amount ? Similar for Ajimobi, although not banking derived. |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by begwong: 2:40pm On Nov 15, 2011 |
so na Bellview wey get gud track record in crashing him go repaint ![]() |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by Pukkah: 2:44pm On Nov 15, 2011 |
manny4life: Yes, that sounds like a good business that will produce a steady flow of revenue especially with the high rate of accidents on our dilapidated and expired roads. How about agriculture? As things are in Nigeria today, you can't go wrong with food production. It's so bad that we've started importing vegetables - pineapples, beans, etc even from African countries let alone meeting the production of wheat or rice. How about real estate, construction of roads, health care delivery, assembly of vehicles, etc? I don't wish the owner of First Nation ill luck but it'll be nice to review the business after say a period of 3 years. |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by manny4life(m): 2:52pm On Nov 15, 2011 |
Pukkah: Good ideas, I was suggesting since he loves the transport industry ![]() ![]() ![]() |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by DDN: 3:20pm On Nov 15, 2011 |
[b]@Eko Ile: you don't have to make it obvious that you are a beneficiary of the Lagos State government loot. It is wrong for one person to loot state funds and create a business empire and you justify such an act by saying "afterall he's generating employment". That's one of the major characteristics of loosers except you are the Special Assistant to the Governor on social networks who makes a living by replying critics. If you are get a better means of livelihood and if you are not stop looking for cheap government recognition as the thieves you are supporting don't visit nairaland, they are busy monitoring their loot somewhere. Looting is looting,whether he lends back to you some of the money he stole from you or actually dashes you some,i cant believe our sentiments,how do we vote Leaders into power and instead of them serving the general public and steppin down respectfully in due course,They loot our money and throw it back into our face by flaunting their loots as if that is not enough insults,we are here justifyin their theft and tearng ourselves apart via arguments,A public servant in any capacity shldnt leave the office 1000times richer than he was at inception,This is totally wrong,Wake up Nigerians,Cut the sentiments and wake up,These leaders keep toying with our intelligence.Its my humble and analytical opinion.[/b] God will bless those who posted these. Keep doing this good work. We will surely eradicate this menace in our country one day. |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by mustspin: 3:28pm On Nov 15, 2011 |
Gbawe:well, $30 million is huge money and i dont think any reasonable person is gonna be lending that out to a company or sector without fundamentals. moreover, where is the proof that the airline belongs to tinubu? |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by Pukkah: 3:39pm On Nov 15, 2011 |
mustspin: This is a good question which is yet to be addressed or proved. This is why I wrote 'the owner of First Nation' in my post before this on this thread. The ownership of First Nation airline at best remains a conjecture. |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by anonimi: 3:49pm On Nov 15, 2011 |
Pukkah: Fashola's Senior Special Adviser for Nairaland Social Network has so far confirmed that the godfather of his boss owns the airline from $30m bank loan. Una think sey Eko Ile no sabi the thing wey im dey yarn concerning dem Area Father anymore ![]() |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by mustspin: 4:02pm On Nov 15, 2011 |
anonimi:haba, can u just read wot u posted yourself, no nigerian bank will lend out that huge amount of money to a single entity be it company or private. its not in line with the CBN rule |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by Pukkah: 4:24pm On Nov 15, 2011 |
mustspin: Nah. It's not against the CBN rule to lend out $30m to a single entity. See earlier posts on this thread with regards to this. |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by aribisala0(m): 9:12pm On Nov 15, 2011 |
so lagos state owes $1billion dollars. lagos state has a GDP of $33 billion http://en.wikipedia.org/wiki/List_of_Nigerian_states_by_GDP so owes about 3 % of GDP Italy,USA,Greece and many others with figures well above 100% would love to be in lagos' position |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by EkoIle1: 9:25pm On Nov 15, 2011 |
anonimi: You mind showing us the wonderful confirmation you domb a,s,s worthless lair. Awon oloshi low life clowns, your existence is based on lies and ignorance. |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by runsgirl: 9:52pm On Nov 15, 2011 |
Kudos to Job creation. Hope the airline will survive unlike others. |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by Godmann(m): 10:02pm On Nov 15, 2011 |
[size=20pt]Tinubu is a thief. A criminal. Gani said so in 1999 until the Yoruba ethnic sentiments decided to cover him up. I don give a damn whatever he buys with Lagos state funds. To hell to whoever that want me to worship a common criminal. To hell with Tinubu and his airline[/size] |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by MA105: 12:34am On Nov 16, 2011 |
Congrats, Hope it doesn't fold oo? |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by obowunmi(m): 12:36am On Nov 16, 2011 |
Only in Nigeria does some steal from the masses and uses it to develop a business, Hehe! Well dangote did the same. Goodluck with ya biz! |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by hollars(m): 8:23am On Nov 16, 2011 |
Da Doctor: If you govern Lagos state for 8years and you can't own an airline, your parents will disown you out-rightly. besides you need to to be informed, Tinubu was rich before he became the governor, so tell me if you had his kinda wealth before his position would you not grow someday and own an airline? Thank God he's investing it in the country not in Netherland's aviation business. |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by hollars(m): 8:47am On Nov 16, 2011 |
![]() ![]() ![]() ![]() The brilliance of this young Nigerian showed in his ability to make the honours’ list of Richard Daley College. He subsequently transferred to the Chicago State University, Illinois, graduating with honours in 1979 and earning a Bachelor’s Degree in Business Administration (Accounting and Management). During his first year in Chicago State University, young Bola was given the[b] rare privilege to partly teach other students of his Faculty remedial tutorial classes[/b]. Most of his colleagues and contemporaries at the university attributed their improved grades to his tutorial lectures. Throughout his undergraduate years, young Bola was on the Dean’s List and was honoured with the Outstanding Student’s Award, the University Scholar’s Award and the Certificate of Merit in Accounting and Finance. He was also awarded the prestigious Sumna cumlaude for scoring[b] 3.54 out of possible 4.0 GP.[/b] With his successful academic profile, [b]young Bola [/b]contested and won his first political election as the President of the Accounting Society of the institution in his final year at the University. Upon graduation with honours and several awards, Bola Tinubu cut his professional teeth at the American-based Arthur Anderson, this guy was brilliant in school so if he becomes the president today, i think he's got the brain. im not supporting him tho'. i never knew he's this intelligent, i use to see him as a rascal but i think he's got brains + rascality, this gives him an advantage over most of our politicians, i doubt if most of them didnt performed well in school. i know its not a yardstick for political office performance but it's an added advantage |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by DaDoctor: 9:11am On Nov 16, 2011 |
hollars: TELL ME SOMETHING. WAOOOOO! CONGRATS. SO TELL ME OTHER GOVS THAT OWN AIRLINE, 5-STAR HOTEL, TAX CONSULTING FIRM, MAJOR CONSTRUCTION COY IN LAG ETC. I LAFF IN AFENIFERE. LOOKING FORWARD TO A DAY LAGOS WILL BELONG TO THE OPPOSITION PARTY . THEN THE FOWLS A/SS WOULD BE SEN CLEARLY |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by Godmann(m): 9:20am On Nov 16, 2011 |
hollars:Corrupt thief, Kparawo, Ole, Onyeochi. What have you just said? That if you rule Lagos for eight years that you should steal enough to be rich. What is the total emolument of a Governor that will make him rich? From what you have just said, you seem to have proved you parents welcome thieves. My own parents will disown me if I rule Lagos for any number of years and turn out rich, because they know it was a public office. Because we are not a family of thieves. may be your are as you have shamelessly proved. So tell us where Tinubu made his money from? From drugs I guess? |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by mbulela: 9:24am On Nov 16, 2011 |
the airline business in Nigeria does not make sense. almost all the existing ones are struggling to cope and the regulatory environment is unstable and often outrightly inconsistent. Why someone will plunge millions and billions into it beats my imagination. Agriculture would make more senses to me. On a related note, i would love to see a discussion on the EXPLODING DEBT OF LAGOS STATE by resident ACN supporters. the article that was posted in the first page of this thread makes for a worrying picture. Is there any thread here where it has been discussed? i would love to hear intelligent views devoid of insults. |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by mbulela: 9:31am On Nov 16, 2011 |
Pukkah:I find your views on this thread very considered, enlightening and sensible. I have always been of the opinion that those who entered the airline and newspaper (dailies) publishing business in the last 10 years have done so for the either or both of the twin purposes you alluded to above. Like you said, Time will tell and i wish this airline the best. However, BAT is undoubtedly an intelligent man and i assume there is something he sees that you and i do not see if it is not for one of the two reasons above. |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by mbulela: 9:34am On Nov 16, 2011 |
Gbawe:Is Adeola the owner or financier of the airline? If the business makes economic sense and the risk is properly priced, i doubt you need all the clout in the world to finance it. After all the banks too are in it for profit. |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by jmaine: 10:50am On Nov 16, 2011 |
hollars: Tales by moonlight . . .This Zobo fit cause constipation ![]() |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by ceomike(m): 11:08am On Nov 16, 2011 |
Safe Trip for everyone |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by mbulela: 11:08am On Nov 16, 2011 |
^^^^ verifying his grades should not be such a hard job. I doubt the guy can be denied that. |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by Pukkah: 11:16am On Nov 16, 2011 |
mbulela: Thanks. Your words are true. |
Re: Bola Ahmed Tinubu's First Nation Airline Begins Operation by Nobody: 11:41am On Nov 16, 2011 |
This is certainly better than Swiss accounts! |
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