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Subscription for Transcorp Hotels Rights Issue Opens

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Transcorp Hotels Discharge Certificate

By Dipo Olowookere

Shareholders intending to take their rights in the N10 billion rights issue of Transcorp Hotels Plc can begin to do so as the subscription has opened.

Application for the exercise officially started on Monday, October 5, 2020, and will run till Wednesday, November 11, 2020.

During the rights issue, the hospitality giant hopes to sell a total of 2,659,574,468 ordinary shares of 50 kobo each at a nit price of N3.76 to shareholders.

This offer is for shareholders who held stocks of the company as at the close of business of Monday, July 13, 2020, though other interested investors can subscribe by getting in touch with their stockbrokers.

The firm plans to raise about N10 billion from the rights issue, which would be ploughed back into the company for its operations.

During the sales, Transcorp Hotels will be offering to subscribers a total of seven new ordinary shares of the company for every 20 ordinary shares held by shareholders.

Business Post reports that these new shares to be sold in the rights issue would be issued from the authorised share capital of the company, which is currently at N7.5 billion comprising 15.0 billion ordinary shares of N0.50 each, and the resultant issued and fully paid-up share capital will be N5,129.989.184 consisting of 10,259,978,368 ordinary shares of N0.50 each.

Transcorp Hotels Plc owns the iconic Transcorp Hilton Abuja and Transcorp Hotels Calabar.

The company, like every other in the sector, has been badly hit by the COVID-19 pandemic and recently, the management announced that it was cutting its workforce by 40 per cent, while its senior executive management team will get a pay cut.

“Our workforce headcount will be reduced by at least 40 per cent, and our reward system will be optimised,” the MD/CEO of Transcorp Hotels, Mrs Dupe Olusola, said recently.

According to her, “The slow pick up of international travel, restriction on large gatherings, the switch to virtual meetings and fear of the virus, has drastically reduced demand for our hotels and occupancy levels to its lowest of less than 5 per cent.”

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

Travel/Tourism

FAAN Launches Energy Efficient Shuttle to Support Abuja Airport

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FAAN abuja airport electric cars

By Adedapo Adesanya

The Federal Airport Authority of Nigeria (FAAN) has unveiled 30 airport electric shuttle which will be used to complement airside and landside logistics.

The shuttle, which comprises 10 vehicles and 20 saloon cars, will cost N10,000 per passenger from the Nnamdi Azikiwe International Airport, Abuja to the City Centre.

Speaking at the event, the governing board chairman of FAAN, Mr Abdullahi Ganduje, said: “Electric vehicles offer clear operational and environmental benefits. They are cleaner, quieter and more energy-efficient, significantly reducing carbon emissions and helping FAAN minimise its ecological footprint. Their use will contribute to healthier airport environments and a more comfortable work and travel experience.

“From a logistics standpoint, electric vehicles also enhance monitoring, coordination and compliance. Their predictable performance and lower maintenance demands improve operational planning, accountability and service reliability. Ultimately, this translates into more efficient, transparent and passenger-friendly services.

“This initiative directly supports global sustainability targets, including International Civil Aviation Organisation’s goal of achieving net-zero carbon emissions by 2050. By embracing electric mobility, FAAN is positioning Nigerian airports to remain competitive, responsible and future-ready.”

Mr Ganduje pledged the commitment of the board to ensure that the initiative is utilised, maintained, and expanded to other airports in the country.

On her part, the managing director of FAAN, Mrs Olubunmi Kuku noted that the agency has secured approval to deploy 100 electric vehicles to operate as airport shuttles at Lagos and Abuja airports.

“We have secured approval to deploy 100 Electric Vehicles (EVs) to operate as airport shuttles at both Murtala Mohammed International Airport, Lagos, and Nnamdi Azikiwe International Airport, Abuja. It is a monumental step towards greening our operations and reducing our carbon footprint.”

“We proudly begin this journey with the first phase: the launch of these 10 state-of-the-art electric shuttle buses. They represent more than just transport; they symbolise cleaner air, quieter terminals, and a to pioneering sustainable infrastructure in Nigerian aviation”.

She expressed optimism that the initiative would be replicated across all airports in the country.

The head of Fleet Operations of Possible EVS, Mrs Abimbola Gyer while stating that the transport fare would be subsidised for passengers, added that operations would commence from 7am to 7pm daily.

“We partner with NEV Electric, the manufacturer of the electric buses. We would be moving passengers from the airport to the city centre at the rate of N10,000 and as demand continues, we will expand our hub. The operations will start from 7 a.m. to 7 p.m daily,” she noted.

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Quickteller Travel Secures IATA Certification

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Quickteller Travel

By Modupe Gbadeyanka

The travel and tourism service powered by Interswitch, Quickteller Travel, has been issued a certification from the International Air Transport Association (IATA).

With IATA certification, Quickteller Travel is now fully equipped to connect African travellers to global destinations, support airlines and partners with reliable distribution and settlement, and set a new standard for trusted, digitally enabled travel across the continent.

The IATA accreditation reinforces Quickteller Travel’s operational credibility, compliance standards, and ability to deliver secure, efficient, and globally recognised travel services.

It also strengthens the platform’s positioning as a reliable partner for airline bookings, corporate travel management, and end-to-end travel solutions across Africa and beyond.

The certification is a milestone that places the brand among a global network of trusted and accredited travel service providers.

This achievement comes at a time when Africa’s travel and tourism sector is experiencing renewed growth, driven by increased business travel, regional connectivity, and digital adoption.

With IATA certification, Quickteller Travel is poised to offer individuals, SMEs, corporate organisations, airlines, and other travel stakeholders a seamless digital experience, supported by Interswitch’s trusted payment infrastructure.

Integrated into the broader Quickteller and Interswitch ecosystem, Quickteller Travel combines global accreditation with local insight, offering African travellers and businesses a secure, seamless, and digitally empowered experience.

The Vice President for Transport Ecosystem at Interswitch, Ms Nnenna Ajanwachuku, said, “The IATA certification is a strong validation of Quickteller Travel’s operational standards, governance, and commitment to excellence. It enhances trust for travellers, corporate partners, and global airline stakeholders who rely on accredited platforms for secure and transparent travel transactions.

“For Interswitch, this milestone reinforces our mission to build technology-led solutions that unlock access, simplify commerce, and connect Africa to the global economy.”

Ms Ajanwachuku added that the approval would enable Quickteller Travel to deepen partnerships with airlines and travel service providers while offering customers greater confidence, choice, and value.

“Quickteller Travel is not just a booking platform; it is part of an ecosystem designed to make travel more accessible, reliable, and digitally enabled for Africans. Powered by Interswitch’s heritage of trust and innovation, we are building a platform that meets global standards while responding to local travel needs,” she said.

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Emirates, Air Peace Enhance Seamless Global Connectivity

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Emirates Air Peace

By Modupe Gbadeyanka

Two key players in the Nigerian aviation industry, Emirates and Air Peace, have activated a bilateral interline agreement aimed to expand air connectivity between Africa, the United Arab Emirates (UAE), and London.

The two airline operators are building on their existing partnership to offer their passengers frictionless, single-ticket travel and with through-checked baggage, on select routes, resulting in greater travel comfort and convenience for customers.

Beyond the 13 cities in Nigeria already available for Emirates passengers on Air Peace’s network, the enhanced interline agreement now enables travellers to connect with Banjul in Gambia and Dakar in Senegal, both via Abidjan; and with Freetown in Sierra Leone and Monrovia in Liberia, both via Accra. The additional gateways allow more passengers in Africa to access Emirates world-class product and services, and vast global network.

The agreement allows Air Peace to connect its extensive West and Central African route system into Emirates’ hub in Dubai, and on key destinations including London Heathrow, London Gatwick and London Stansted, Abidjan, Accra and, of course, Lagos.

With huge demand for travel between Nigeria and the United Kingdom,  providing Air Peace passengers with increased choice, flexibility, and global reach.

Emirates operates a Boeing 777-300ER on its Dubai-Lagos route, providing travellers with one of the best experiences in the sky.

Passengers can dine on regionally inspired multi-course menus developed by a team of award-winning chefs complemented by a wide selection of premium beverages, while tuning in to over 6,500 channels of global entertainment – including Nollywood classics – on ice, Emirates’ award-winning inflight entertainment system.

As one of only two airlines operating a First Class cabin into Nigeria, Emirates offers an unrivalled travel experience defined by comfort, privacy and luxurious touches.

With a fleet of over 50 aircraft including Boeing 777s, Boeing 737s, Embraers, Air Peace operates an expanding network of domestic, regional, and international services, connecting major cities across Africa and beyond.

The airline remains committed to strengthening intra-African connectivity, supporting trade and tourism, and contributing meaningfully to economic development across the continent.

“Enhancing our interline partnership with Air Peace allows us to expand our footprint across more of Africa, creating new opportunities for people to fly better with Emirates, while helping international tourists explore more of the region, via Lagos.

“We remain committed to working with strategic partners such as Air Peace to further strengthen Nigeria’s aviation, tourism and trade sectors,” the Chief Commercial Officer for Emirates, Mr Adnan Kazim, said.

His counterpart at Air Peace, Nowel Ngala, while commenting, said, “This interline agreement with Emirates represents a major step in Air Peace’s strategic vision to connect Africa more efficiently to global markets.

“By combining our strong regional presence with Emirates’ extensive international network, we are delivering seamless connectivity, improved travel experience, and greater access to key global destinations for African travellers. This partnership further reinforces Air Peace’s role as a critical bridge between Africa and the global aviation ecosystem.”

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