Skye Bank finances new aviation services partnership

Skye Bank Plc is bankrolling a major new initiative to boost air travellers’ in-flight experience as the financier of the strategic airline catering and logistics alliance between Servair, a foreign firm and Global Trade Investment Limited, a Nigerian company.

Servair, a wholly owned subsidiary of Air France, brings world class management and technical expertise while Global Trade brings deep knowledge of the Nigerian market to create a customer service hub aimed at redefining in-flight experience. Skye Bank brings the finance to make the partnership a success.

The Servair-Global Trade partnership will lead to an initial production capacity of 4,000 to 5,000 meal trays per day which will increase as market dictates. The hub of their operations is the Muritala Mohammed International Airport in Lagos, which is strategically positioned for this development with approximately 6.7 million passengers passing through it every year.

Skye Bank is at the centre of the new initiative to make Nigeria the largest operational base of Servair in Africa. The bank is financing the 5000 meals per day in-flight catering facility with a 900m2 temperature controlled warehouse to cater for airlines under an Export Free Trade Processing Zone arrangement at the international wing of the Muritala Mohammed International Airport, Lagos.

Besides in-flight food services, the Servair-Global Trade partnership also engages in handling of equipment and logistics consisting of the loading and unloading of aircraft, management and storage of airline products, provision of airport assistance from runway to the terminal, cleaning of the cabin, and preparation of clean and comfortable aircraft.

The new project is another indication of Skye Bank’s commitments to projects and investments aimed at ensuring safety and comfort of air travellers. It should be recalled that Skye Bank Plc also provided finance for a new domestic airline, First Nation, which parades in its fleet modern aircraft in line with the requirements of the Nigeria Civil Aviation Authority (NCAA).

Executive Director, Corporate and Investment Banking, Skye Bank Plc, Mr. Timothy Oguntayo said that the bank has been playing an active role in nurturing the industry to growth through funding of infrastructure, acquisition of aircraft and partnership with support service providers in the industry.

He noted that the special nature of air travel makes the aviation industry a very sensitive one that requires high standards, effective regulation and complementary equipment to ensure safety of both passengers and aircraft.

According to him, the intensity of airlines core services and activities often imposes financial constraints to the airlines but a strong financier like Skye Bank provides the necessary back-up to ease such strain and make air travelling more exciting.

Industry analysts noted that most times, the high demands imposed on airlines in terms of having their aircraft well maintained and properly equipped with safety equipment leave the airlines with little or no time to attend to on-board customer service. Often, their preoccupation is the safety of flights and passengers which many national and international aviation regulatory agencies are out to regulate and enforce.

As a result, there is a service gap left unfilled by the airlines which though may be not be given high premium by the airlines but which undeniably ranks high in the preference of air travelers-customer service.

Analysts pointed out that with its array of services and solutions, Servair has helped many airlines globally to expand their businesses, ensure higher profitability and giving them a competitive edge.

According to analysts, just as there is much emphasis on safety and standards in the aviation sector, creating an exciting and pleasant experience in air travel is no less important. Delighting air travelers and winning them over is now the ultimate desire of many airlines worldwide. This desire is borne out of the need to achieve repeat patronage and, consequently, increase market share.

Analysts noted that by delegating the management of their on-board services to Servair, airlines can concentrate on their core business in all tranquility and optimize the quality of services given to passengers.

Servair’s value proposition is to allow airlines concentrate fully on carrying passengers by offering them a complete range of customized services, a palette of turnkey solutions developed to offer the best possible ground and in-flight support to the airline world.