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Jimoh Ibrahim, the
current chairman of Nigerian Eagle Airlines (former Virgin Nigeria
Airways), on Wednesday in Lagos disclosed that his company will next
week announce a new brand name for the carrier.

Mr.Ibrahim, who is
also the chairman of the NICON group, the company that bought over the
country’s flag carrier last week, disclosed that the airline is
technically fit but financially sick, adding that there is going to be
structural changes in the company to stabilize its operations.

“There will be a
name change and the name will reflect the image of our nation and by
next week latest I am going to brief the media on the new name,” he
said. “If I buy any foreign company, I change the name to reflect
Nigeria even if Virgin gives me their name for free of charge I will
change the name.”

Virgin Nigeria was
launched in the country, amidst fanfare, in 2005.Last year, the company
changed its name to Nigerian Eagle Airlines after cutting ties with its
founder – Virgin Atlantic Limited.

Prior to the name
change on September 17, last year, British billionaire and chairman of
Virgin Atlantic disclosed that the founding company of Virgin Nigeria
was looking forward to selling its 49 per cent stake in the carrier,
for which it did pay a sum of about $25m in 2005.

The new owners,
NICON group, disclosed that the airline’s fleet would be increased to
seven aircraft, which are expected to focus on domestic routes and
regional routes, stressing that the number will be increased to 17 in
the future to expand the suspended long haul operations.

New strategy

Mr. Ibrahim
disclosed plans of enlisting the carrier in the stock exchange under
its new name, adding that the current company has no issues with the
parent and founding carrier, Virgin Atlantic.

“My immediate plan
is to stabilize the airline with at least seven aircraft which we are
going to achieve shortly,” he said. “The plans include expansion of its
fleet to seven to capture the local market, regional routes and later
the international networks.”

Reacting to critics
who have questioned his ability to successfully manage the airline,
following the fortunes of defunct EAS airline that was later taken over
by his company, Mr. Ibrahim assured that there is no reason to worry.

“There is no fear
any where, if people have fears, it a self created fear, if I want to
mention people who successfully run any company in Nigeria, it is our
company because one of the greatest areas where people have respect in
us is the ability to turn around any company,” he said.

On fears that the new company might retrench some its workforce, the chairman disclosed that there are no plans to sack workers.

“Each aircraft requires a number of people that will service it,” he
said. “We are strategizing and turning round the airline, why should we
sack any worker? But if you are a fraudulent staff, you better start
running while the dedicated ones should expect their promotion.”