Virgin Nigeria, a joint venture between Virgin Atlantic and major Nigerian financial institutions, has outsourced its passenger revenue accounting operation to Mercator. This critical process, which converts the information printed on used tickets into the financial data needed for airlines to compete effectively, will now be completely managed by Mercator’s professionals.
Virgin Nigeria will be cut loose from the ties of all the administrative and IT tasks associated with revenue accounting, giving them the time and resources to focus on their key activities.
Mercator’s Revenue Accounting Bureau Service slashes hardware, software and manpower costs, enhances revenues, boosts efficiency and generates valuable management information.
Chris Smyth, Chief Financial Officer of Virgin Nigeria, said: “At this stage in our airline’s development we depend on the mission critical information which revenue accounting provides. Our competitiveness depends on it.
“While revenue accounting is indeed a critical process for us, it is not our core business. Mercator’s revenue accounting and IT professionals are without doubt among the best in the business, and I’m looking forward to see the benefits promised by them become reality.”
Virgin Nigeria is 49% owned by Virgin Atlantic Airways, with the majority 51% being held by 20 Nigerian institutional investors. Its hub is in Lagos, with services already running from Lagos to London and to destinations within Nigeria and West Africa. The network will rapidly expand to cover numerous routes to Europe, the US, Africa, the Middle East and Asia.
Frank Zenke, Vice President Sales and Market Development for Mercator, said: “This deal highlights the universal appeal of our outsourced services for airlines. Whether our customers are start-up airlines or global carriers, all can benefit from Mercator’s unrivalled expertise and second-to-none infrastructure. We are looking forward to working with Virgin Nigeria and helping them to become a force to be reckoned with.”
Mercator’s outsourcing specialists already support Emirates, Olympic Airways, Air Tahiti Nui and Valuair. These IT, financial and airline experts boast an enviable breadth of experience, and the company has recently become a founder member of the International Association of Outsourcing Professionals.
Customers for other Mercator financial solutions include Air Malawi, Air New Zealand, Air Niugini, Air Pacific, Air Sahara, Air Zimbabwe, Avianca, British Airways, Jet Airways, Kenya Airways, Malaysia Airlines, MEA, Qantas, Royal Air Maroc, Royal Brunei, Singapore Airlines, SriLankan, Syrian Arab Airlines, TACA, Tarom, Varig and Yemenia.
Thursday, September 8- 2005 @ 10:12 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.