BusinessDay 21 Aug 2018

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Tuesday 21 August 2018 C002D5556 BUSINESS DAY A7 AVIATION GUIDE in association with The untold story of Dana air Ifeoma Okeke The air transport narrative in Nigeria over the years has assumed different dimensions. Resultantly, it is becoming difficult to pass a verdict without looking at the twists and turns operators continue to navigate around in the last few decades. But, Nigeria’s aviation industry trajectory has been replete with challenges; albeit culminating in the bust and boom circles of many domestic carriers. However, a litany of operational and safety challenges continue to alter the stakes, with Nigeria contributing significantly to Africa’ s poor safety record. Verdict: Many aircraft fell off the skies between 2005, 2006 , including DANA Air’s 2012 air crash in Iju Ishaga area of Lagos. But, global coalition in stepping up regulation; enhanced safety management system and other measures being put in place has change the narrative. Apparently trying to get its act right following the loss of its aircraft in the crash the airline has since deployed appropriate strategies to get on the turf again. The airline like the seam proverbial Phoenix has not only risen from the dead but is recognised as one of the four top competitive domestic airlines in Nigeria. It still thrives to fulfil its mission to consolidate its operations, despite the backlash of the 2012 air crash. Airlines such as Nigeria Airways, ADC airline, Bellview Airline, Sossoliso Airlines and EAS which had also fallen from the skies claiming the lives of hundreds of people, never lived to tell the story. The question resonate is: What is Dana Air’s winning streak? To players both at home and abroad the lingering question lingers: What exactly did Dana Air do differently to get back its market share? It’s only apt to situate the Dana Air’s narrative as: ‘Experience is the best teacher.’ Having flown over 2.7 million passengers in the last nine years of its operation in addition to receiving multiple awards for aviation excellence and corporate social responsibility, ducted by the Nigerian Civil Aviation Authority and its foreign partners – The Flight Safety Group, and is determined to reinforce our strategic route network within and beyond Nigeria. Special Services Unit/Pilot training Dana Air in furtherance of its much-vaunted customer- centric products, recently launched a Special Services Unit attend to passengers with special needs, urgent complaints, update passengers on current promos and benefits of Dana Miles at the airports in Lagos, Abuja, Port Harcourt, Uyo and Owerri. On the newly – introduced Special Services Unit, Obi said the airline introduced the Special Services Unit to further deepen customer service, offer multiple issue-solving options and provide seamless travel experience for our teeming guests.’’ Following industry counsel by AIB on the need to train its pilots and crew regularly, Dana Air has swung into action in recruiting and training more Nigerian Pilots in Johannesburg, South Africa and Madrid –Spain, as part efforts towards contributing to the growth and development of the Nigerian aviation industry. According to Mbanuzuo, “Dana Air is committed to the growth and development of the Nigerian aviation industry. As at 2015, more than 500 Nigerian pilots were unemployed but with our recruitment and frequent training both locally and abroad since 2015, we have been able to reduce the number, by engaging these pilots and paying for their training in South Africa and Spain. “We will continue to encourage Dana Air was also unveiled as one of Nigeria’s 100 Most Respected Companies by Business Day Newspaper’s Research Unit. The airline is reputed for its innovative online products, world-class in-flight service and unrivalled on time performance. Over the years, the airline has gained the confidence of passengers in its unrivaled and unmatched on time departure in addition to payment of insurance claims to relatives of members that lost beloved members in the crash in Lagos. IOSA Certification The airline is definitely not taking safety for granted as it passed its International Operations Safety Audit (IOSA) and was admitted into the association’s global safety registry. This is as the airline is currently the newest member of the International Air Transport Association (IATA). Obi Mbanuzuo, the Accountable Manager of Dana Air, while responding to the airline’s recent achievement said,’’ becoming a member of IATA is a significant milestone for us at Dana Air and this only demonstrates our level of professionalism and commitment to operational efficiency in terms of providing our guests with safe, seamless and world-class air transport service in Nigeria. “Apart from the fact that this membership will further strengthen our relationship with other international airlines, we see it as an opportunity to take our amazing products to the global stage through interline and code-share agreements.’’ NCAA audit Dana Air was the first airline to undergo an operational audit conprofessionalism in the industry and support our Nigerian Pilots to ensure constant growth and development in the industry.’’ Top 50 brands in 2017 In furtherance of its innovation, CSR, popularity, National spread and online engagement, Dana Air made the list of top 50 brands 2017 for the third time consecutively, at the Brands Nigeria Leadership Forum held recently at Oriental Hotels, Lagos. According to Taiwo Oluboyede, the CEO of Top 50 Brands Nigeria, Nigeria is becoming more attractive to investors across the world in spite of our many challenges. He said :” More people are coming to invest and there is need to provide information about corporate Nigeria. The Brands that have made it today are home-grown brands that have shown resilience, contributed to the economy of Nigeria, have good national spread, innovative and have good online engagement and popularity.’’ Kingsley Ezenwa, the Communications Manager of Dana Air, while responding to the unveiling of Dana Air and Dana Group as one of Nigeria’s Top 50 brands for the 3rd time consecutively said, “we are highly honored to have been listed among the top 50 brands in Nigeria. We are a responsible corporate citizen and giving back to the society, contributing positively to the economy of the country, and churning quality products are the ways we have shown commitment to the Nigerian dream. Our investment across Nigeria and in various sectors of the economy, speaks volume of our commitment to continue to provide jobs for our people and assist the government to achieve a positive growth trajectory in the economy.’ “We are nine years plus in the aviation industry and we have shown massive resilience in spite of the multiple challenges, providing value added services at all times and our guests should expect an all-round improvement in 2018.’’ On the sampling of drinks on its flights, Ezenwa said, Dana Air is always open to giving more to its guests and partnering Ideas House to sample a new brand of soft drink on our flights is just another way of achieving this.’’ Official airline of Akwa Ibom christmas carols festival The airline was also announced as the Official Airline of one of the biggest festivals in the world- The Akwa Ibom Christmas Carols Festival, which held on 22nd of December, 2017 at the Uyo Township Stadium, Akwa Ibom state. Aniekpeno Mkpanang, the Permanent Secretary, Akwa Ibom State Ministry of Culture and Tourism and Coordinator of the Festival, said: ‘The Akwa Ibom Christmas Carols Festival is one of the biggest and well-attended Festivals in the world and we are expecting over 20,000 artistes and visitors to fly in from other parts of the country, Africa and the world, hence the need to join ranks and partner with one of the most consistent Airlines in Nigeria right now to ensure a hitch-free, hassle free, seamless, and on-time travel for all our guests and visitors.’’ Other CSR activities Dana Air has been supporting worthy causes since inception in 2018. The airline has consistently carried out charity collection on board to support sickle cell patients, and has entered partnership relevant to carry out voluntary blood donation to those in need, and carrying out community development initiatives across the country. Dana Air has also supported the ravaged cities and displaced person in the north with household materials and food stuffs. The airline has been supporting various non-governmental Organisations (NGOs), particularly the Children Living with cancer foundation, EMAC cancer walk, Project pink Blue and many more for over 6 years now. Dana Air has been supporting their awareness initiatives, victims and free screening initiatives to date.
Tuesday 21 August 2018 A8 BUSINESS DAY C002D5556 Live @ The Exchanges Top Gainers/Losers as at Monday 20 August 2018 Market Statistics as at Monday 20 August 2018 GAINERS Company Opening Closing Change DANGCEM N220 N229.5 9.5 AIRSERVICE N4.45 N4.85 0.4 STANBIC N50.05 N50.3 0.25 CADBURY N10 N10.1 0.1 FCMB N1.7 N1.8 0.1 LOSERS Company Opening Closing Change NB N103 N100 -3 UNILEVER N55 N52.5 -2.5 GUARANTY N38 N36.95 -1.05 PZ N14.05 N13.05 -1 ZENITHBANK N22.55 N21.85 -0.7 ASI (Points) 35,341.90 DEALS (Numbers) 3,054.00 VOLUME (Numbers) 220,495,783.00 VALUE (N billion) 3.187 MARKET CAP (N Trn 12.902 Customs Street edges lower by 1.71% ...investors lose N221bn in one day Stories by Iheanyi Nwachukwu Ni g e r i a stock index opened this week negative despite that some investors still raised wagers on stocks like Dangote Cement Plc, Airline Services & Logistics Plc, Stanbic IBTC Holdings Plc, FCMB Group Plc, and Cadbury Nigeria Plc. The Lagos Bourse was down by 1.71 percent at the close of trading session on Monday August 20, 2018 as declining stocks outnumbered advancers. The Exchange’s trading statistics showed eleven stocks edged higher against 22 laggards, thus pushing Year-to-Date (YtD) negative returns higher to minus -9.36percent. “Given that the second-quarter (Q2) 2018 earnings season is closing out, we expect geopolitical events and policy changes to impact more on global equity Indexes. However, in the near term, we expect the stronger economic outlook and double-digit earnings increases to provide support for rising stock prices in the U.S markets. “We also expect the market to remain largely downbeat in the local market due to a continued absence of bullish triggers. Also, we expect investors to take profit during early trades ahead of the holiday”, said the Kayode Tinuoye-led team of research analysts at United Capital Plc in their investment view for this week. The Nigerian stock market’s broad Index –the NSE All Share Index (ASI) depreciated by 1.71percent to close at 34,663.48points as against 35,266.29 points at the beginning of trading while the value of listed equities measured as Market Capitalisation decreased from N12.875trillion to N12.654trillion, representing N221billion decline. Despite the Dangote Cement-driven recovery witnessed last Friday, research analysts at Lagos-based Vetiva Capital Management foresee a return to negative territory this week “given that underlying investor apathy remains in the market”. They had expected milder losses on Monday August 20, 2018 . In 3,054 deals, stock traders exchanged 220,495,783 units valued at N3.187billion. Trading in banking stocks helped buoy market transaction volume. For instance, UBA Plc, Zenith Bank Plc, Access Bank Plc, Skye Bank Plc, and FBN Holdings Plc were the actively traded stocks on the Nigerian Stock Exchange on Monday. UBA and Access Bank Plc are among stocks in most analysts watch list as they are of the last Tier-1 banking institutions that are yet to release their first-half (H1) 2018 financial statements. Dangote Cement Plc led the league of gainers after its share price increased from N220 to N229.5, up by N9.5 or 4.32percent; while Airline Services & Logistics Plc advanced from N4.45 to N4.85, up by 40kobo or 8.99percent. Stanbic IBTC Holdings Plc increased from N50.05 to N50.3, up by 25kobo or 0.50percent; FCMB Group Plc advanced from N1.7 to N1.8, up by 10kobo or 5.88percent; while Cadbury Nigeria Plc increased from N10 to N10.1, up by 10kobo or 1percent. Nigerian Breweries Plc recorded the highest loss after its share price declined from N103 to N100, down by N3 or 2.91percent; followed by Unilever Nigeria Plc which declined from N55 to N52.5, down by N2.5 or 4.55percent; and GTBank Plc which lost N1.05, from N38 to N36.95, down by 2.76percent. Likewise, PZ Cussons Nigeria Plc stock price dropped from N14.05 to N13.05, representing N1 or 7.12percent loss, while Zenith Bank Plc declined from N22.55 to N21.85, down by 70kobo or 3.10percent. RAK Unity Petroleum intensifies efforts to boost sales RAK Unity Petroleum Company Plc is determined to achieve its strategic objectives by driving growth inorganically through a merger or acquisition; thereby enabling the company to respond competitively to the emerging changes and trends in the business operating environment. As part of RAK Unity Petroleum Company Plc five-year business plan that commenced in January 2016, the company aims to boost sales through the production of branded lubricants and increase profit margins by investment in direct importation of Diesel (AGO). “There are currently ongoing plans to lease four new retail stations and refurbish the old retail stations. These plans will be executed on the back of the merger or acquisition,” Edo-Abasi Bassey Ukpong, chairman, RAK Unity Petroleum Company Plc told shareholders at the company’s 15th annual general meeting held in Lagos on Thursday August 16, 2018. He assured that going forward, with the anticipated improvement in the Nigerian economy facilitated by increasing oil production and revenue, growth in trade and investment, a stable and transparent FX market, “we will position your company to take advantage of opportunities and offer value to you.” “To continue to grow our business, despite the tough operating environment, RAK Unity Petroleum Company Plc board has begun a strategic review process of our business to evaluate all the options open to us to significantly improve our Moroti Adedoyin – Adeyinka, director, RAK Unity Petroleum Company Plc, James Ogungbemi, managing director, RAK Unity Petroleum Company Plc, Ukpong Edoabasi, chairman, RAK Unity Petroleum Company Plc, Oyindamola Ehiwere, company secretary, RAK Unity Petroleum company Plc at the company’s 15th annual general meeting in Lagos. company’s performance. Once the board has fully evaluated these options, we intend to return to you, our shareholders, to report on our new strategic direction,” Ukpong further told shareholders. At inception, the company had as its main object, the marketing of and distribution of petroleum products, purchased from the Nigerian National Petroleum Corporation (NNPC), within Nigeria and the West Africa sub region. The products distributed by the company include Petrol (PMS), AGO, Gas (LPG) and Kerosene (DPK). The company also distributes Engine Oil, Brake Fluid and Distilled Water. RAK Unity Petroleum Company Plc is listed on the Alternative Securities Market (ASeM) of the Nigerian Stock Exchange (NSE) and was the first indigenous petroleum company to be so listed. Toparte Nigeria Limited currently holds 85percent of the 56,624,893 issued share capital of RAK Unity Petroleum Company Plc and a diverse group of Nigerians hold the remaining 15 percent. Robert Igwe, a shareholder said at the meeting that “the company has good board, management and staff. One good thing in any account is when retained earnings and shareholders fund are growing. With what I see in the account, I can only tell the company to keep it up. For the dividend, we will always ask for more.” Another shareholder Anthony Omojola said “The company revenue increase is a welcome development to us, the shareholders.” At the annual general meeting, the shareholders of RAK Unity Petroleum Company Plc received and adopted the audited accounts of the company for the year ended December 31, 2017 together with the reports of the directors and the auditors thereon.
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