Dozy Mmobuosi, CEO and Founder of Tingo, Inc. and Tingo International Holdings, has long held ambitions to make investments in the aviation sector. In 2019, he established Tingo Airlines Ltd (UK) with the goal of acquiring a license and operating flights between Europe and Africa. But due to the outbreak of Covid-19 in 2020, the plans were redirected towards Tingo Mobile and the development of Nwassa and Tingo Pay.
However, despite the disruption to the global aviation sector, Dozy Mmobuosi and Omni-Blu Aviation Limited have entered into a Joint Venture and Mutual Cooperation Agreement (JVMC) in 2020. This led to the incorporation of a Joint Venture Company (JVCo) called Omni-Tingo Aviation Services Limited as the commercial vehicle through which their mutual aspirations would be administered.
In this blog post, we will explore the progress that has been made since the JVMC was established and the resources that have been invested towards the common objective. We will also discuss the 50% shareholding of the Omni-Tingo JVCo, owned by Dozy Mmobuosi and Omni-Blu Aviation Limited respectively.
Since the project implementation plan resumed, the Omni-Tingo JVCo have made significant progress. This includes the purchase of a Sirkosky S-76C++ Helicopter in November 2022 and the completion of a transaction for the purchase of a Challenger 605 Business Jet in the USA. The JVCo is also currently in active negotiations for the lease of several regional jets to commence domestic and regional flight operations in Nigeria and across the region.
The vision of Dozy Mmobuosi and Omni-Blu Aviation Limited is to provide regular, customised, and specialised air transportation services. This is a huge undertaking and will require significant resources and investments to be successful.
So, if you’re interested in learning more about the progress of the Omni-Tingo JVCo and the investments being made to bring the vision of Dozy Mmobuosi and Omni-Blu Aviation Limited to life, then read on!
Source: www.marketwatch.com