It is with trepidation that the news got to the industry that NICON group has bought Virgin Nigeria, considering the calamitous entry of the group some years ago through the liquidated EAS airlines, which has prompted staff of EAS airline to go to court seeking redress for unpaid salaries and allowances. Should the affected workers continue to wait for the judicial process or go for a quick regulatory intervention since NICON has returned to the industry through Virgin Nigeria?
Luckily, Virgin Nigeria is not listed on the Stock Exchange, the share price would have taken a drastic nosedive with that announcement based on that sad experience, coupled with sole –owner- manager syndrome that has bedeviled our domestic carriers which made almost all of them fail the NCAA financial audit with accompanying crippling debt, that has been detrimental to profitability and necessary public finance or public support in coveting critical public expenditure travel.
In welcoming the group back to the industry, they need to understand the new dynamics as exemplified by the airline, which is the impeccable systems, processes and management in place that needs some air of freedom in order to continue to maintain, sustain and retain the necessary benchmark put in place such as IAOSA certification, IATA&AFRAA membership, seamless electronic ticketing e.t.c, which has made the airline, a willing bride of foreign airlines.
It is not Uhuru for the carrier except necessary running funds are immediately injected, ownership expanded to reflect the national carrier status of its founders, a good replacement for Capt Olumide if he cannot be convinced to stay while efforts are geared towards converting the aircraft options to firm delivery.
Anything short of this will make us a laughing stock in the Virgin empire and beyond.
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