Finchglow Group has said it is targeting N30bn in air ticket sales in 2019.
Finchglow has already sold over N15bn of its projected target for 2019. It sold in excess N24bn in tickets in 2018.
Mr. Ikotun Ezekiel, Group Operating Officer, Finchglow Group disclosed this to our correspondent at the Finchglow Travels trade partners meeting in Abuja.
“Last year, we closed with N24bn sales, this year, we are looking at N30bn and for the half year, we have already achieved half of it,” he said.
He however noted that, though Finchglow does this huge sales volume for the airlines, the bulk of them foreign airlines, very little of the resources is retained locally.
According to him, “the commission on the tickets is small and even some airlines like Lufthansa don’t even pay commission on their tickets irrespective of how much sales you make for them.
“The effort we put in to get this volume for the international airlines isn’t commensurate with the returns we get. For instance, a ticket that costs about N1.5m, all we get is about N15,000. On a business or first class ticket on Lufthansa that is about N3m, you get no kobo on it. So what we get from the airlines isn’t commensurate with our investments. So we thrive on volume.
“We also sell other complementary services. Averagely, we get about N5000 commission on international tickets,” he explained.