By Lawani Mikairu

Despite Airlines’ Zero Commission policy in the aviation market, Travel   Investment Company Limited, TICO,   generated N36 billion revenue in business transaction in 2014. This was possible because the company has been able to “ shift from a commission-revenue model to service-fee model”.

This was disclosed by Mrs Irene Uti-Egbeogu, Chief Executive Officer, TICO, at the launch of the company’s dream Experience Achieve Brand campaign in Lagos last   weekend. According to her “ this combined revenue of over N36 billion   amounts to approximately 20 percent of the industry revenue.

This performance quotient speaks as much of the market potential is in the travel industry as in the power of this consortium’s standing in the industry”.

TICO is the first-in-Nigeria consolidation of four of the largest travel agencies in Nigeria, namely: Touchdown travels, Quantum Travels, Finchglow Travels , and Dees Travels. This consolidation was done in a bid to strengthen their position in the travel industry and raise the standards of quality service delivery in the industry.

According to Uti-Egbeogu, the company was incorporated in August 2013 to raise professional standards of the Nigerian travel industry to international practice benchmark and wider service offering to clients.

Speaking at the brand launch , the Chairman of TICO Board of the Directors, Mr Michael Otubu  said “ In just over 16 months of operation, TICO has become the most engaging and pervasive partner for all the major airlines in Nigeria. A lot of our airline partners, having sensed the opportunity, have moved quickly to embrace TICO and expanded the scope of our partnership accordingly.”

The brand campaign, Dream, Experience, Achieve, it was further revealed by TICO CEO, “captures the brand promise of the pioneer consolidation to deliver quality customer service experience and travel consultancy services that will help travelers achieve their goal for their travel or vacation plans. This campaign is deployed through strategic traditional and digital channels”.