Vanguard Visit: Rising Costs Force Airlines to Dip Into Reserves, Shareholders’ Funds — UNA says

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VISIT–– from left: Head, Subscriptions, Vanguard Newspapers, Mrs Ngozi Ogbere; Manager, Corporate Affairs, Vanguard Newspapers, Mrs Funmi Ajumobi; Chief Commercial Officer, United Nigeria Airlines, Mr Adedayo Olawuyi; Managing Director, United Nigeria Airlines, Mazi Osita Okonkwo, Group Advert Manager, Vanguard Newspapers, Mr Adebowale Ojo; Manager, Corporate Affairs, United Nigeria, Mrs Chinelo Obogo; and Aviation Correspondent, Vanguard Newspapers, Mr Dickson Omobola, during a courtesry visit by Vanguard Newspapers team to United Nigeria Airline office in Ikeja, Lagos on Tuesday. Photo: Lamidi Bamidele, Photo Editor

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By Dickson Omobola

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United Nigeria Airlines, UNA, Tuesday, said rising operational costs have forced airlines to dip into their reserves and shareholders’ funds to sustain flight operations.

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Managing Director of UNA, Osita Okonkwo, said the situation had persisted in the past three to four months following the outbreak of the Middle East war, which had increased the cost of airline operations.

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Okonkwo spoke during a courtesy visit by representatives of Vanguard Newspapers to the airline’s office in Ikeja, Lagos.

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He said: “In the past three or four months since the war started, many people have ignored what the airlines have done to keep flying Nigerians from one destination to the other.

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“Basically, we have been subsidising everybody. The costs are just so high that the revenue you make, you have to dip your hands into your reserves and into your shareholders’ pockets to make them fly.

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“But we are here not for the short term; we are here for the long run. We know that it’s bad today, but tomorrow it will be better. And that is the hope we have in the economy and in the country, where we have made huge investments.”

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He also welcomed the engagement with Vanguard, saying the airline was open to partnerships that would create value for both organisations.

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For his part, Chief Commercial Officer of UNA, Adedayo Olawuyi, thanked Vanguard for the visit and expressed the airline’s readiness to strengthen its relationship with the newspaper.

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Olawuyi said the airline, as a leading domestic carrier, was interested in expanding its visibility and communicating its activities to travellers.

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He said the airline was open to exploring partnerships that would deliver measurable value while strengthening its presence across digital and traditional media platforms.

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