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Nairaland Forum / Nairaland / General / Politics / Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous (27895 Views)
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Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by newoffer: 4:56pm On Jul 22, 2018 |
We are Ashiwerey group of people... We are all United in corruption. |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by LaudableXX: 5:17pm On Jul 22, 2018 |
kmariko: Thank you, o! ![]() ![]() 2 Likes |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by Iziquiel(m): 5:56pm On Jul 22, 2018 |
PassingShot:Just leave am, he dey do himself. |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by AZeD1(m): 5:57pm On Jul 22, 2018 |
Iamgrey5:There's Arik and Aero which is currently owned by the government. Before you run, you need to learn to crawl, there are lots of issues wrong with the Nigerian aviation sector and a national carrier isn't one of them. Apart from Ethiopian Airways, the majority of other airlines are loss making machines. What will the new airline provide that Arik, Aero and Air Peace can't provide? |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by AZeD1(m): 6:02pm On Jul 22, 2018 |
Phagyrhe: The Nigerian government says its owning just 5% of the airline, the question is why not invest that 5% in the private airlines currently in the country? What's more absurd is that Arik and Aero are currently owned by the government via AMCON, so if its the government was since, they could have started from there. |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by caprini1: 6:03pm On Jul 22, 2018 |
new2012:You've said it all...an industry where Richard Branson couldn't survive,we simply are not ready for this ,no need to waste the money. |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by Iamgrey5(m): 6:05pm On Jul 22, 2018 |
AZeD1:i don't think the government intends to use them for local routes. So I believe they are focusing on international routes to compete with other African carries reaping off Nigerian customers. I believe we have more travelers than those African carriers. I also believe management problems are one the main issues bothering those other national carriers, hence the Nigerian government will be transferring majority of the management of the new national carrier into private hands. |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by PassingShot(m): 6:06pm On Jul 22, 2018 |
kmariko:For argument sake, if we even agree that the FG will provide the entire initial capital of $300m, does that translate to 5% of initial required capital? Would that not be 100% of the initial capital? Is there any remote reason to suggest that the $300m needed at start up is 5% of required initial capital? So, where does the pained man get his $300m being 5% of initial capital from? Gosh! |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by AZeD1(m): 6:09pm On Jul 22, 2018 |
Iamgrey5:Aero and Arik is currently owned by the government, if the government was serious about creating an airline, the simple thing to do is merge the two, rebrand and sell equity. That way, you already have a functioning airline from day one with planes and the likes, all the new investors need to do is improve. |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by Iamgrey5(m): 6:13pm On Jul 22, 2018 |
AZeD1:What difference does it make sir? they still have to acquire new fleets for international destinations anyways! And what makes you think they don't intend to merge both airlines together to create a local section of the national carrier ? |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by Nobody: 6:23pm On Jul 22, 2018 |
Phagyrhe: U have to first fly local before international Oga, No de even call all those airlines,Do u know how many billion dollars they are worth? Do u know how many billion dollars they have invested? ?? U wan use 300 million dollars begin fly their routes ![]() We dont have electricity, our borders are 100% porous, We don't have access to clean water, we have multiple terrorist groups within Nigeria killing people everyday, we have terrible road network, I don't even want to talk about our education sector and u and APC are here trying to build an airline without plane or website or recruiting staff members n no investment in aviation technology. Abeg ... |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by AZeD1(m): 6:33pm On Jul 22, 2018 |
Iamgrey5:They don't have to acquire new fleet, Arik used to fly to New York. By the way, they would have done this without spending a dime aside from what AMCON spent, and the airline would be already operational. |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by kmariko: 6:38pm On Jul 22, 2018 |
PassingShot: That's why I asserted that the details are very murky. Nobody knows what the overall start up cost will be...estimates are what they are.. estimates The government only informed us about how much they will invest to get the deal rolling NOT how much the overall start up cost will be. it is difficult to estimate because of the ever changing business environment. The deal would have in my opinion be made more transparent if the government has come out with a definitive list of investors and how much they are asking and willing to contribute..there's no need for the secrecy. Once again the onus is on the government to prove Chike obi wrong.. his argument is based solely on the scant details provided by the government 1 Like |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by Iamgrey5(m): 6:39pm On Jul 22, 2018 |
AZeD1:@ emboldened are the key words "used too fly" They did that with fleets they borrowed, but they couldn't continue with the routes because it became increasingly unprofitable. So they need new fleets sir! |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by LaudableXX: 6:46pm On Jul 22, 2018 |
AZeD1:Aero and Arik is NOT owned by govt. Government did not buy any of their shares, neither did it invalidate the existing ownership structure of those airlines. The govt agency AMCON is merely managing them, in order to turn their operations around and ensure their creditors get paid. How much shares does federal govt own in both airlines? Nothing! ![]() |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by PassingShot(m): 6:55pm On Jul 22, 2018 |
kmariko:In big business as this, at this stage, the only estimate required and mostly known is the initial required capital which was given as $300m. Nothing in Chike Obi claim to prove wrong by the govt because what the govt has presented is clear except for mischief makers. I don try for you o. |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by AZeD1(m): 6:56pm On Jul 22, 2018 |
LaudableXX: https://www.google.ca/amp/s/www.thisdaylive.com/index.php/2018/06/07/amcon-plans-sale-of-arik-aero-pan-others-in-2018/amp/ |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by LaudableXX: 7:07pm On Jul 22, 2018 |
AZeD1: Oga did you actually read the article, before posting it? The assets that AMCON owns are the loans that those companies incurred. By virtue of its enabling laws, AMCON cannot just buy shares in a company - it buys up bad loans on behalf of banks and creditors, then tries to turn such companies around, to ensure the creditors get paid. Please read the main crux of the article you quoted: AMCON Plans Sale of Arik, Aero, PAN, Others in 2018 |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by AZeD1(m): 7:21pm On Jul 22, 2018 |
LaudableXX:It tries to turn companies around or sell the companies. |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by LaudableXX: 7:42pm On Jul 22, 2018 |
AZeD1:They sell the companies' debt. How many companies has AMCON sold so far? |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by LaudableXX: 8:11pm On Jul 22, 2018 |
kmariko:Another great submission. Thank you, Kmariko. ![]() |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by Iamgrey5(m): 8:20pm On Jul 22, 2018 |
caprini1:Virgin Nigeria was frustrated out of the industry because of your politicians, who decided to side with local carries at that time. Read the extract from Wikipedia below
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Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by AZeD1(m): 9:22pm On Jul 22, 2018 |
LaudableXX:They sold Keystone bank. |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by Nobody: 9:38pm On Jul 22, 2018 |
PrecisionFx: Lol.... Take it easy bro. I don't belong to APC but the Nigerian state. Every country has its own challenges and the fact that we face these problems does not mean we have to remain static as a country. We are expected to face our problems at all fronts. While we tackle the problems you mentioned above, we also need to find a way to create new opportunities and I believe Nigerian Airways is not a bad idea, IMO. The 300 millions dollars you mentioned is the start up capital which will include counterpart funds from would be investor and the government. It was stated clearly before the event in London that the launch was to lure investors. Why not give them the benefit of doubt on this? Multinationals don't just spring up to be, they start from somewhere. This airline is starting like a small enterprise, there is a clear cut path which is well laid out in its document which is publicly available for you to read and digest. Take your time to read about the Ethiopian Airline and tell me its similarities with the newly conceived Nigerian Airways. https://www.ethiopianairlines.com/corporate/company/about-us/history Cheers! |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by Nobody: 11:08pm On Jul 22, 2018 |
Phagyrhe: "" we have to remain static "" We will remain static without electricity. |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by BigIyanga: 11:13pm On Jul 22, 2018 |
Iamgrey5:Naija is not an aviation hub in Africa. Aviation infrastructure is lacking. Gulf and EU airlines have secured market share as a result of first user advantage, technical and operational competence. In 2017, only 30 airlines carried 3.5m passengers on intl routes from Naija. That’s about 116k per airline in a year. https://www.google.com/amp/s/www.dailytrust.com.ng/amplite/nigeria-air-passenger-traffic-drops-26-in-2017.html Kenya Airways flew ..4.5m passengers in 2017 while the entire intl flying population in Naija in 2017 was 3.5m. http://www.anna.aero/2018/01/12/kenya-airways-traffic-grows-71-10-years-4-46-million-passengers/ Intl travel is not like GSM or Heineken/Coca Cola where almost every Nigerian can afford it 3 Likes |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by LaudableXX: 11:46pm On Jul 22, 2018 |
BigIyanga: I don talk say I no go laugh today, but..... ![]()
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Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by Iamgrey5(m): 12:11am On Jul 23, 2018 |
BigIyanga:@ red I don't understand what you mean by aviation hub? and how the infrastructure available in the Nigerian aviation industry has anything to do with traffic(customers ) which what is mostly needed for the survival of any carrier in the world. In the article below, Nigeria is ranked to have the fifth busiest airport in Africa. The countries with the four busiest before it all have National carriers, even countries way down on the list. https://answersafrica.com/list-of-busiest-airports-in-africa.html @ emboldened You also forgot that Nigeria is a price sensitive market and the only reason other major African carriers are able to penetrate the Nigerian market is basically their affordability when compared to the European and Asian carriers. |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by intricate(m): 12:48am On Jul 23, 2018 |
sholatech:its on BBC website |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by danjalingo: 1:58am On Jul 23, 2018 |
This airline is becoming like Richas Okorocha's project. |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by BigIyanga: 2:27am On Jul 23, 2018 |
Iamgrey5:Keep being willfully selective in ur understanding. For some years now, Nigerian airports have been ranked the worst in the world. Even Ghana with smaller airport is better ranked and run than Naija’s. Folks like you with limited travelling exprience stay online and argue with emotions instead of facts. Kenya is a hub in Africa and a member of SkyTeam, which includes Delta, KLM, AirFrance etal, it means that their service delivery and efficiency at par with these global brands. It has taken Kenyan Airways, tens of years to achieve these milestones. Naija is still talking about unidentified investors.. there is no upside in investing in Naija aviation with govt involvement. Naija has neither comparative nor absolute advantage in any aviation-related businesses in Africa. Most foreign airlines go to S/A and north/Africa for parts and maintenance; they even prefer to refuel in Acccra to Lagos. Most important, Nigeria doesnt have a huge flying population...only 11m folks flew in 2017, and out of that number, only 3.5m flew on intl route.. That’s 1.9% of Naija population! Why speend $300m to help 1.9% of Naija? This policy has zero economic impact!! 3 Likes 1 Share |
Re: Former AMCON CEO's Tweet About $300m Nigeria Air Is Misleading And Mischievous by Nobody: 6:50am On Jul 23, 2018 |
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