Olumide, Virgin Nigeria CEO, Quits
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Olumide, Virgin Nigeria CEO, Quits
Olumide, Virgin Nigeria CEO, Quits
By Chinedu Eze, 04.27.2010
The Chief Executive Officer of Nigerian Eagle Airline (formerly Virgin Nigeria Airways), Captain Dapo Olumide, has resigned his appointment. The resignation takes effect from today.
THISDAY learnt from an authoritative industry source that his leaving as the head of management of one of the nation’s major operators is not unconnected with the sale of the airline.
It was made public at the weekend that the entrepreneur, Jimoh Ibrahim, has acquired the airline and now has a controlling stake in the company.
Olumide is an aviation professional and a trained pilot with over 28 years experience.
He joined Nigerian Eagle Airlines in November 2008 as the Chief Commercial Officer after a brief stint as a banker with the Africa Finance Corporation (AFC), specifically in the area of transport infrastructure project development.
Before he was appointed CEO, he was the company’s deputy managing director with oversight responsibilities for commercial planning, sales and marketing, cargo, and corporate aviation.
His resignation has jolted the aviation industry and many professionals in the sector expressed apprehension that his leaving might arrest the steady progress the airline has been making since he took over as CEO a year and six months ago.
THISDAY learnt that Nigerian Eagle Airline was at the brink of liquidation when he took over the management of the airline and sustained it without external funding till its acquisition last week.
Reacting to his resignation, the Chairman of Federal Government Committee on Airports Concession and President of Aviation Round Table, Captain Dele Ore, expressed worry about the development. He described Olumide as a professional whose contribution to Nigerian Eagle ensured the progress it made in the last 18 months. He expressed doubt about the future of the airline.
“As opposed as I was to Virgin Nigeria, the arrival of Captain Dapo Olumide meant that I had to seize fire and to find a way to support him because that is one professional that needed to be supported. As far as I am concerned, Virgin Nigeria is the best run airline in Nigeria and which has met IOSA (IATA Operational Safety Audit) requirements and it is certified. It is the only company in the industry that has IOSA certification. To me, that is an airline that is qualified to be an airline in Nigeria,” he said.
He added: “So if Olumide was able to sustain and maintain it, we should say that we commend his effort. If he leaves, nobody is indispensable, but to me it will be a very sad story and we will be going in circles and that airline will be worse for it.”
Industry consultant and former image maker of the defunct Nigeria Airways Limited (NAL), Chris Aligbe, who expressed surprise at Olumide’s resignation, said that if it was not for the heavy debt profile inherited by the management, the former CEO would have steered it to unprecedented success.
“It is difficult to begin to say what will be the consequence because you don’t know who is coming, but all I need to say is that Olumide and his team have done wonderfully well. They met a very bad situation and they have battled all their lives to salvage that situation. If it were not for the albatross of the debts accumulated by Virgin Group, the Nigerian Eagle would have stood out clearly, showing that people who know what they are doing are in place; they have a good roadmap and they were battling to stay on that road map,” Aligbe said.
The new owner of the company, Ibrahim, had at the weekend said Olumide would retain his position in the company because of the vote of confidence passed on him by the board of the airline.
Ibrahim also directed that all maintenance contracts be left completely in the hand of Lufthansa Technik, a subsidiary of Lufthansa airline.
He has also directed the payment of all outstanding liabilities to the German company.
By Chinedu Eze, 04.27.2010
The Chief Executive Officer of Nigerian Eagle Airline (formerly Virgin Nigeria Airways), Captain Dapo Olumide, has resigned his appointment. The resignation takes effect from today.
THISDAY learnt from an authoritative industry source that his leaving as the head of management of one of the nation’s major operators is not unconnected with the sale of the airline.
It was made public at the weekend that the entrepreneur, Jimoh Ibrahim, has acquired the airline and now has a controlling stake in the company.
Olumide is an aviation professional and a trained pilot with over 28 years experience.
He joined Nigerian Eagle Airlines in November 2008 as the Chief Commercial Officer after a brief stint as a banker with the Africa Finance Corporation (AFC), specifically in the area of transport infrastructure project development.
Before he was appointed CEO, he was the company’s deputy managing director with oversight responsibilities for commercial planning, sales and marketing, cargo, and corporate aviation.
His resignation has jolted the aviation industry and many professionals in the sector expressed apprehension that his leaving might arrest the steady progress the airline has been making since he took over as CEO a year and six months ago.
THISDAY learnt that Nigerian Eagle Airline was at the brink of liquidation when he took over the management of the airline and sustained it without external funding till its acquisition last week.
Reacting to his resignation, the Chairman of Federal Government Committee on Airports Concession and President of Aviation Round Table, Captain Dele Ore, expressed worry about the development. He described Olumide as a professional whose contribution to Nigerian Eagle ensured the progress it made in the last 18 months. He expressed doubt about the future of the airline.
“As opposed as I was to Virgin Nigeria, the arrival of Captain Dapo Olumide meant that I had to seize fire and to find a way to support him because that is one professional that needed to be supported. As far as I am concerned, Virgin Nigeria is the best run airline in Nigeria and which has met IOSA (IATA Operational Safety Audit) requirements and it is certified. It is the only company in the industry that has IOSA certification. To me, that is an airline that is qualified to be an airline in Nigeria,” he said.
He added: “So if Olumide was able to sustain and maintain it, we should say that we commend his effort. If he leaves, nobody is indispensable, but to me it will be a very sad story and we will be going in circles and that airline will be worse for it.”
Industry consultant and former image maker of the defunct Nigeria Airways Limited (NAL), Chris Aligbe, who expressed surprise at Olumide’s resignation, said that if it was not for the heavy debt profile inherited by the management, the former CEO would have steered it to unprecedented success.
“It is difficult to begin to say what will be the consequence because you don’t know who is coming, but all I need to say is that Olumide and his team have done wonderfully well. They met a very bad situation and they have battled all their lives to salvage that situation. If it were not for the albatross of the debts accumulated by Virgin Group, the Nigerian Eagle would have stood out clearly, showing that people who know what they are doing are in place; they have a good roadmap and they were battling to stay on that road map,” Aligbe said.
The new owner of the company, Ibrahim, had at the weekend said Olumide would retain his position in the company because of the vote of confidence passed on him by the board of the airline.
Ibrahim also directed that all maintenance contracts be left completely in the hand of Lufthansa Technik, a subsidiary of Lufthansa airline.
He has also directed the payment of all outstanding liabilities to the German company.
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Good move by Olumide
, why did Jimoh with out an idea of what Aviation is except of course the Glamor aspect terminate a contract with Ethiopian Air ,odering the the company to revert back to LT whose charges are way more than ETs ...Sadly for staff of Virgin Nigeria(Eagle) get ready for a Social Experiment 
and oh for the Pilots to be in Jimohs Good books always recognize his presence when he is on board
, why did Jimoh with out an idea of what Aviation is except of course the Glamor aspect terminate a contract with Ethiopian Air ,odering the the company to revert back to LT whose charges are way more than ETs ...Sadly for staff of Virgin Nigeria(Eagle) get ready for a Social Experiment and oh for the Pilots to be in Jimohs Good books always recognize his presence when he is on board
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I remember few months back Olumide was the devil in all threads regarding VK now that he has gone he was the best,it goes back to the old saying:You can only see the beauty of the bird when it's gone flying
