₦airaland Forum

InvertedHammer:
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Either it is propaganda as usual or the foreigners found a way to get into the Nigerian aviation market through a front. Babawande Afolabi has no financial clout to pull off such a deal.

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PDPGuy:
Afolabi isn’t going about the venture alone, he has some experienced hands from American Airlines, and a financial firm backing him.

Moreover, the article states that GAA has 50 firm orders and 50 optional orders. So, GAA may decide to forego the 50 optional orders until they become a much bigger player in the African aviation market.
Besides, GAA only needs to make a deposit, not the full payment, in order to receive the new planes.

Green Africa Airways Announces Two Major Milestones - Completes Series A Round of Financing, Forms an Advisory Board of Senior Industry Leaders

LAGOS, Nigeria, June 27, 2018

Green Africa Airways announced today that it has completed its Series A round of financing with Kuramo Capital, a Pan African independent investment management group based in New York with additional offices in Lagos and Nairobi. As part of the new investment, Green Africa Airways has also formed an advisory board of senior industry leaders led by Tom Horton, former CEO & Chairman of American Airlines and former Chairman of oneworld Alliance, William Shaw, Founder & former CEO of VivaColombia, and Virasb Vahidi, former CCO of American Airlines.

The new airline has received an Air Transport License (ATL) from the Nigerian Government, commenced its Air Operating Certificate (AOC) process and is in conversations with leading aircraft manufacturers. Green Africa Airways also recently appointed Captain Jag Singh, VP of Flight Operations and former Acting CEO of Caribbean Airlines, as Chief Operating Officer, and Captain Bart Roberts, former VP of Flight Operations at JetBlue and ex-Chief Pilot at American Airlines, as Chairman of the Safety Review Board.

Mr. Walé Adeosun, Founder & CEO of Kuramo Capital noted, "The aviation sector is a critical industry that can create meaningful value for shareholders while also contributing significantly to the economic development of a nation. Green Africa Airways presents a legacy opportunity for Kuramo Capital to generate attractive risk-adjusted return for our investors and build a world-class business that will serve as catalyst for economic growth on the African continent."

According to Mr. Tom Horton, "Nigeria is uniquely positioned to be the home of the next major value airline in the industry that will bring air travel to a much broader group of people. Alongside William, Virasb and Babawande, I am very happy to join hands with Kuramo Capital to launch and shape Green Africa Airways into a preeminent customer-focused brand."

Mr. Babawande Afolabi, Founder & CEO of Green Africa Airways said, "We are incredibly fortunate and honored to have reputable leaders back Green Africa Airways. The consortium brings seasoned experience, extensive global networks and value-based leadership to Green Africa Airways. This pivotal Series A round of financing and outstanding advisory board will strengthen our journey to build Green Africa Airways into a top-notch carrier that will help create a better future for several millions of customers in Nigeria and Africa at large."

About Walé Adeosun & Kuramo Capital

Walé Adeosun, CFA is the Founder & CEO of Kuramo Capital, a Pan African independent investment management group based in New York with additional offices in Lagos and Nairobi. Prior to founding Kuramo, Walé was Treasurer and CIO for Rensselaer Polytechnic Institute (RPI) $1 billion endowment fund. He led RPI's increased investment efforts in emerging markets, including Africa. From 1999-2004, he was Managing Director in the Investment Group of the MacArthur Foundation in Chicago. Walé was a member of President Obama's Advisory Council on Doing Business in Africa and is former Chair of the $180 billion New York State Common Retirement Fund's Investment Advisory Committee. He also served as a member of the Sub-Saharan Africa Advisory Committee of the US Export-Import Bank. Walé is a CFA charter holder and was inducted into the New York chapter of Association of Security Professionals Wall Street Hall of Fame in 2008.

About Tom Horton

Thomas W. Horton (Tom) served as Chairman, President and Chief Executive Officer of AMR Corporation until its merger with US Airways to form American Airlines Group in 2013. During that time, he led American Airlines through a successful restructuring and turnaround which culminated in the merger that made American Airlines the largest airline in the world. He subsequently served as the Chairman of the combined entity until 2014. Tom was also the Chairman of oneworld, the global airline alliance until March, 2014. Previously, Tom served as Executive Vice President and Chief Financial Officer of AMR Corporation and American Airlines from 2006 to 2010, and Vice Chairman and Chief Financial Officer of AT&T Corporation from 2002 to 2006. Tom is currently the Lead Director at Walmart and Qualcomm. He also sits on the Board of General Electric and he is a Senior Advisor to Warburg Pincus, a leading American private equity firm.

About Green Africa Airways

Green Africa Airways is a value airline headquartered in Lagos, Nigeria. Through safe, quality and affordable air travel, Green Africa Airways seeks to be a significant contributor to the economic development of Nigeria and the African continent.

Green Africa Airways makes new appointments
Posted 2 May 2018

Green Africa Airways has appointed Captains Jag Singh and Bart Roberts as Chief Operating Officer and Chairman of the Safety Review Board, respectively.

Captain Jag is a senior industry leader with over 35 years of experience. He currently serves as Vice President of Operations at Caribbean Airlines with responsibilities covering Flight Operations, Ground Operations, maintaining regulatory relationships, and working closely with the Engineering & Maintenance Team. Captain Jag has also served as Acting CEO of Caribbean Airlines twice (2013-2014 & 2016-2017). He had overall responsibility for the airline during his two tenures as Acting CEO. In 2013, Captain Jag worked with the Board of Directors to successfully restructure and reposition Caribbean Airlines. In the early years of his career at Caribbean Airlines, Captain Jag served as a Training Captain, Fleet Manager, Check Airman and Chief Pilot.

Captain Bart Roberts' career has also spanned over three decades with senior leadership roles at JetBlue Airways, American Airlines and the U.S. Navy. Captain Bart most recently served as the Vice President for Flight Operations at JetBlue Airways. In his role, he was responsible for the safety and standard operating practices as well as SMS (Safety Management Systems) for all flight operations. Prior to joining JetBlue, Captain Bart spent 29 years at American Airlines with increasing leadership roles, retiring as Chief Pilot with responsibilities for 9 crew bases, 14 Base Chief Pilots and 8,000+ pilots. He also served in the U.S. Navy, active duty and reserve, from 1980 to 2005. He's a past member of IATA Operations Council (2007 - 2014) and A4A Operations Council (2007-2017).

JavaKonjo:
How many functioning airports does Nigeria have to support this many planes?
How many high denity routes are there for 100 jets.
Can FAM handle the air traffic control for 100 jets flying in Nigerian airspace just like that?
Where will they get the Jet A1 fuel and air crews from?
Sorry but the infrastructure required does not exhist.
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