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Transcorp Hotels Declares N686.5m Loss in Q1 2020

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Transcorp Hotels

By Dipo Olowookere

One of the leading hospitality organisations in the country, Transcorp Hotels Plc, started the year on a rather wrong note, recording a loss in the first three months of 2020.

The coronavirus pandemic, which originated from the Wuhan city of China last December, has had a huge toll on the global economy this year and the travel/tourism sector remains one of the most affected.

Flights have been grounded due to the closing of airports around the world, while some hotels have been converted into isolation centres to cater for those infected with the virus.

In its Q1 2020 results, Transcorp Hotels said its revenue was flat at N4.2 billion over the comparative periods, while the cost of sales increased to N1.2 billion from N1.1 billion in Q1 2019, with gross profit slightly down to N3.0 billion from N3.1 billion.

However, the company said there was an improvement in the other operating income, which closed at N129.5 million, higher than N80.0 million in the corresponding period of last year.

But the operating profit was not lucky as it went down to N660.7 million in the first three months of this year from N1.1 billion in the first three months of last year.

During the period under review, Transcorp Hotels said there was a spike in its administrative expenses to N2.5 billion from N2.1 billion in the same time of last year, with the net finance costs also rising to N1.4 billion from N673.5 million.

According to the results analysed by Business Post, Transcorp Hotels recorded a loss before tax of N686.5 million in Q1 2020 compared with a profit before tax of N436.5 million in Q1 2019.

Also, the firm printed a loss after tax of N686.5 million in contrast to the profit after tax of N296.8 million in the same time of last year, while the earnings per share closed at negative in this period at -9 kobo versus 4 kobo of Q1 2019.

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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Travel/Tourism

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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Travel/Tourism

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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