Posted by By Mojeed Jamiu, Finance Editor on
Zenith Bank Plc and Emirates Airline have entered into a strategic alliance to enable the Dubai-based carrier.....
Zenith Bank Plc and Emirates Airline have entered into a strategic alliance to enable the Dubai-based carrier reach out to a larger travel agent community in the country.
The pact signed at the Zenith Bank corporate Headquarters, in Victoria Island, Lagos by the bank's Managing Director/ Chief Executive Officer, Mr. Jim Ovia, and Mr. Hafeez Azeem, Emirates' general manager in Nigeria, will also result in the bank having an implant operation within the Emirates' Lagos office.
Ovia described the pact as mutually beneficial development, adding that, while Emirates would benefit from the vast branch network of Zenith Bank, particularly in the area of e-ticketing, the bank on its part was glad to hold the account of the airline, which he described as one of the fastest growing in the world.
According to him, the new pact would be faster and easier for customers of Emirates as well as other stakeholders to carry out transactions with the airline through the bank's vast network spread across the country.
The Emirates manager said beyond the immediate gains of operating the airline's account, more benefits will accrue to the bank in due course. Such benefits, he said, would come in phases.
The agreement opens the way for over 500 IATA-approved travel agents to conveniently book Emirates tickets for their passengers and pay at any of Zenith Bank branches across the country. On receipt of payment, Emirates will promptly issue e-tickets to the passengers.
Passengers and travel agents will henceforth make payments at the implant branch and all the other Zenith Bank branches nationwide.
Zenith Bank emerged the biggest bank in the country last week after it announced a record N53.63 billion as proceed from its public offer, which ran from February 6 to March 20,2006.
With that announcement, Zenith Bank, which already had N38.7 billion shareholders funds as at the end of June 2005 became the most capitalised bank in the country with over N92 billion capital.
Emirates is one of the world's fastest growing airlines and has a rapidly-expanding global network spanning 84 destinations in 57 countries, including Nigeria.