24 May 09

VIRGIN NIGERIA BOARD APPOINTS CAPTAIN DAPO OLUMIDE AS MANAGING DIRECTOR

Lagos Nigeria, 24th May 2009: The Board of Virgin Nigeria, the country’s private sector flag carrier, has approved the appointment of Capt. Dapo Olumide as its Managing Director / Chief Executive Officer.

Capt Olumide’s appointment which is effective June 18th 2009 was announced in Lagos at the weekend at the end of the board of Directors meeting by the Chairman, Mr. Fexlix Ohiwerei.

He was until now the Company’s Deputy Managing Director with oversight responsibilities for Commercial Planning, Sales and Marketing, Cargo, and Corporate Aviation, Dapo brings with him 25 years of aviation experience as well as a brief period in banking.

An Aviation Professional of over 28 years, the new Managing Director, Dapo Olumide, earned a Bachelor of Science degree from Embry-Riddle Aeronautical University in Florida, USA in 1980 after which he joined Aero Contractors in 1982. Following many successful years, he was appointed the Deputy Managing Director in 2002 at which point he transformed the original company vision from an exclusively B2B model to the more demanding and more modern B2C approach.

Prior to joining Virgin Nigeria, Dapo had a brief stint as a banker with the Africa Finance Corporation (AFC), specifically in the area of Transport Infrastructure project development.

Making the announcement in Lagos, the outgoing Managing Director, Conrad Clifford said: “I am thrilled that Capt Olumide is taking over from me; we have worked together in these past months and I am certain of his capabilities. He worked with me firstly as the Chief Commercial Officer and as Deputy Managing Director”.

He further said: “Virgin Nigeria Airways will indeed be repositioned as he comes in as Chief Executive with years of experience in airline administration especially now that the business has been restructured to focus on its profitable domestic and regional service”.

Captain Olumide said: “I am coming on board at a period when the global airline industry is going through challenges but with the rest of the hard working team, I am sure we will further position the airline and make it safe and profitable”.

“We will keep premium to safety and passengers’ comfort at all times and our passengers should look forward to an airline that adds value. This is our promise”.