Ethiopian Airlines’ 4-Pillar growth strategy

Ethiopian Airlines was forced to heavily adapt during the peak months of the pandemic. The flag carrier of Ethiopia took it upon itself to redeploy its aircraft to meet urgent cargo demand while conducting over 470 critical repatriation flights.

Now, recovery is underway, and the airline is once again evolving. Simple Flying recently spoke with Ethiopian Airlines USA Regional Director Samson Arega, about his airline’s growth strategy in this new era.

The refocusing on air cargo helped Ethiopian Airlines end 2021 in a profitable state thanks to a boom in freight demand. Overall, the airline handled the pandemic with its own finances without bailouts while operating close to 70% capacity as the new year arrived.

To handle the challenging conditions of the global health crisis and enter recovery in a strong position, Ethiopian developed a four-pillar growth strategy. The focus areas are:

Following the rise of the pandemic, the company capitalized on these pillars and used its agile workforce and technology to cope with the crisis. Samson highlights that the flexibility of its management has been critical in devising new strategies to come through the crisis, including the reconfiguration of passenger aircraft into cargo and redeployment of staff to its least affected business units while applying cost leadership strategies.

Keeping the momentum going
In this next chapter, these pillars will remain integral. Samson told Simple Flying the following about his airline’s recovery plans:

“Passenger business is recovering. Complete recovery is dependent on the confidence of travelers and airlines’ safety measures. For us, safety has been at the heart of our operation, and we stepped up precautionary actions to help gain passenger confidence in travel and expedite recovery. Digitization has also been a priority to bring about a contactless passenger experience from booking all the way to boarding. At the airport, customers’ experience is contactless, easy, and convenient with the newly designed terminal equipped with the latest aviation infrastructure. We digitized most airport activities.”

Samson adds that passengers can seamlessly book, check-in or change travel dates from home. Moreover, most customer flight requirements can be handled by the carrier’s app. As a result, the majority of passenger queries are addressed online with the additional help of chatbots and social media channels.

There have been significant changes already this year. Notably, long-time CEO Tewolde GebreMariam stepped down due to health issues and was quickly replaced by new CEO Mesfin Tasew Bekele in March.

Ethiopian didn’t waste time following this shift, with the carrier announcing a thrice-weekly service on an Addis Ababa-Lomé-Washington route that will begin on June 1st using Boeing 787-8 aircraft. The airline’s leadership is keen to optimize opportunities on North American routes, looking to cater to demand from growing business segments.
Ethiopian Airlines concludes that it is determined to recover in the passenger space with the effective practice of safety measures to boost customer confidence.

All in all, the airline’s ability to adapt and show resilience is due to its 75-year journey that has allowed it due evolve with the times. This factor is significant at this time when countries are starting to ease restrictions and airlines need to transition themselves to new challenges to restore business. Therefore, the carrier is working closely with other airlines, airport operators, and aviation regulatory bodies to make the most of this crucial period

Lagos State to seal construction sites without a professional, evidence of insurance policy

By admin

 

The Lagos State Government has warned that any construction site without the presence of at least a professional and evidence of insurance policy will be sealed off .

The sanction will commence site by site inspection to force compliance.

This is part of the state government’s efforts to stem the tide of building collapse in the construction sector.

This was made known by the General Manager of the Lagos State Building Control Agency (LASBCA), Arc. Gbolahan Oki, when he gave audience to the Association of Real Estate Developers of Lagos State (AREDOLS) in Lagos, warning developers and property owners in Lagos to abide by the building codes of the state or face the full wrath of the law.

Arc. Oki in his address to members of the association warned that, henceforth, all developers must ensure that buildings conform to requirements of the law such as engagement of building professionals – Architects, Engineers, and Builders – during building projects in order to ensure the stability of buildings.

He said, “The Agency will begin site by site inspection to compel compliance and any site without the presence of at least a professional will be sealed off and the developer will be highly sanctioned.’’
The General Manager further said that the General Contractor All-Risk Insurance Policy must be taken seriously as the relevant unit of the Agency has been fully activated to intensify enforcement and seal off any building site, above two floors, that does not have evidence of the policy on demand.
Oki maintained that the names of all artisans working on-site, including iron benders, welders, bricklayers, carpenters, and others must be provided on demand with their respective passport photographs while all concrete works have to be assessed by Lagos State Materials Testing Laboratory and the test results submitted to LASBCA as applicable.
He also warned developers to desist from harassing and obstructing State officials while carrying out their legal duties, insisting that the dastardly act would attract serious sanctions, including prosecution.

N32.68bn withdrawn from RSAs by 131,376 retired workers – PenCom

By Favour Nnabugwu
A whopping N32.68 billion was withdrawn from Contributory Pension Scheme (CPS) of Retired Savings Accounts (RSAs) by 131,376 retired workers with less than N550,000 in their accounts.
Figures from the National Pension Commission, PenCom shows the latest figure of 131,376 retirees is a 14.4 per cent increase from 114,837 retired workers who withdrew N28.46 billion as of the end of June 2020.
Between June 2020 and December 2021, the number of retirees rose by 16,539 who withdrew N4.12 billion, according to PenCom.
It also shows that some foreign nationals returning to their countries withdrew their savings before they left Nigeria.
Pension Reform Act 2014 says any worker with less than N550,000 in his RSA is expected to be given the entire amount by the Pension Fund Administrator (PFA) and subsequently allowed to quit the pension scheme
.PenCom decried the attitude of employers that deduct monthly contributions from workers’ emolument but fail to remit such to their RSAs with their respective PFAs.
It said it retains the services of recovery agents for the retrieval of outstanding pension contributions and penalties from defaulting employers.
The Pension Funds Operators Association of Nigeria (PenOP) said: “If the employer and employee have contributed consistently over this period of time, then the funds in that individual’s RSA account would be sufficient to have a decent lump sum with enough funds remaining to earn a decent pension for life.
“As a matter of fact, what we need to promote, and the pension industry is leading on that, is to encourage more workers to add to their statutory deductions while working, as this would enable them to shore up their balances over time.
“What we need to advocate more is the consistency and discipline in the contributions that will even remove the need for any large lump sum payout when retired.
“If a worker were to save N20,000 consistently every month for 15 years with an interest rate of 10 per cent per annum compounded for the 15 years, at the end of the period, he would have amassed over N16 million.