July 17, (THEWILL) – When Caverton Helicopters was established 20 years ago as a charter, shuttle and maintenance company, the intention of the promoters was to bridge the gap in the onshore helicopter service sector. In the past two decades, the helicopter company made strides in the offshore support (oil and gas) industry by providing logistics support to the major players.
However, most operators in the aviation industry were negatively affected when COVID-19 broke out in 2020, in addition to the effects of a harsh operating environment, multiple taxes, foreign exchange issues and the high cost of Jet A1.
Just at a time when most companies were on the verge of recovery, Caverton Offshore Support Group Plc, the parent company of Caverton Helicopters Limited, released its unaudited 2021 financial results, recording a whopping N4.3 billion loss after tax, compared to profit after tax of N1.1 billion in 2020. Industry watchers attributed this to COVID-19, which caused significant reduction in activities by International and local oil and gas companies who are its major clients.
The situation was worsened by the jet A1 crisis, which was largely triggered by the war in Ukraine. It was compounded by the devaluation of the naira, resulting in a huge blow to operators in the sector.
These developments had negative effects, not only on Caverton Helicopters but also other operators, such as OAS Helicopters, Bristow Helicopters and others in that segment.
In May, 2022, for instance, Caverton lost its Chevron contract to Bristow Helicopter, a situation that is expected to negatively impact its dwindling revenue for the second quarter of 2022.
However, the company is not resting on its oars. In what industry pundits see as a rescue mission, Caverton is already making rigorous efforts to reposition its subsidiary companies, including Caverton Marine and Caverton Helicopters. To address the changes and challenges within the aviation, marine logistics and fossil energy sectors, Caverton Offshore Support Group recently made changes in the management of some its subsidiaries.
To this end, the company recently appointed Ibrahim Chafe Bello as Managing Director and Accountable Manager of Caverton Helicopters Limited, with effect from July 1, 2022.
According to the Chief Executive Officer of Caverton Offshore Support Group, Olabode Makanjuola, the changes are in line with the company’s goal to reposition its subsidiary companies.
Bello has over 34 years of continuous aviation experience in various sectors. He started his aviation career with the Nigerian Air Force in 1987 and served with the Presidential Air Fleet, Abuja as an Aircraft Maintenance Officer, rising to become the Chief Engineer of the Hawker and Gulfstream Fleets, respectively.
He retired from the Nigerian Air Force in 2004 meritoriously with the rank of Squadron Leader and proceeded to Delta Connection Academy, Florida, USA where he obtained his Fixed Wing CPL Multi/ IR in 2004.
Bello joined Caverton Helicopters in September 2011 as an EC155 and AW139 pilot. He served as a Line Training Captain on both types. In June 2012, he was appointed the Base Managing Pilot, overseeing Port Harcourt Shell operations until his appointment as the Shell Contract Manager in August 2014. In September 2015, he was appointed the Director of Operations, a position which he held until his new appointment.
Bello holds the Nigerian Civil Aviation Authority (NCAA) Aircraft Maintenance License with various ratings and the ATPL Multi Engine license from the FAA and NCAA. He holds a Bachelor of Science (Hons) degree from the Nigeria Defence Academy and he is also an IATA certified Dangerous Goods Instructor. He has earned various medals and awards from both his military and civilian careers.
The Board also approved the appointment of Rotimi Makanjuola as Group Chief Operating Officer (COO) and Lolade Abiola as Executive Director of Training for Caverton Helicopters.
As COO, Makanjuola, according to the company, will oversee planning and implementation of business strategies for growth across the Group (marine and aviation).
Until his appointment, Makanjuola was the Managing Director/Accountable Manager of Caverton Helicopters. He holds a Bsc in Economics from the University of Bradford, UK and a Master’s degree in Auditing and Management from City Business School London, UK.
Lolade Abiola, the new Executive Director of Training, holds a Bsc in Computer Science from King’s College London, UK and an Msc in Air Transport Management from Cranfield University’s School of Aeronautical Engineering.
Until her appointment, Abiola was the Chief Operating Officer for the Group and also served as the Executive Director, Strategy and Safety Innovation for Caverton Helicopters.
She also had a stint in the Office of the Vice President of the Federal Republic of Nigeria as the Technical Advisor to the Vice President on Solar and Rural Access.
Anthony Awunor, is a business correspondent who holds a Bachelor of Arts Degree in Linguistics (UNILAG). He is also an alumnus of the Nigerian College of Aviation Technology (NCAT), Zaria Kaduna State. He lives in Lagos.
