Med-View Airlines set to bounce back
Nigeria’s Med-View Airlines has set a target of N376 million as the monthly turnover it intends to generate as it expects three more aircraft to join its fleet before the end of the year.
The Chief Executive Officer of the Airline, Alhaji Muneer Bankole, while speaking at the airlines’ Annual General Meeting (AGM) last week declared that the carrier had been in discussion with some financial institutions to raise capital to turn around its fortune,
Bankole used the opportunity to announce that the airline was set to once again return the carrier to profitability once the three aircraft arrive even as he attributed reduction in the airline’s operations in the recent past to the present economic hardship in the country which he said was not peculiar to the aviation sector.
According to Bankole, the reduction of the airlines’ fleet due to C-Check affected the possible upward growth of its revenue thereby resulting in a record low profit.
Lamenting the lack of support from many banks, Bankole stated “The lack of support and trust which banks in Nigeria have towards aviation business did not help matters as none of the banks take risks but were not willing to take up this in particular.”
The airline chief who told shareholders present at the AGM to expect good things to come, used the period to hint of the decision of the airline management to recall some of its workers that were recently relieved of their jobs.
Speaking on the coming 2019 hajj exercise, Bankole said the airline has been contracted by the Federal Government to airlift 6000 pilgrims during the operations.
“This is an opportunity for us to improve our inflow which would also help our turnover. We hope by the grace of God, we will soon improve on our domestic operations”. Some shareholders who expressed misgiving with the 2018 performance of the airline however assured the airlines of “support and prayers” as it pulls through the “trying moments.”
The airline CEO spoke of the plan of the carrier to diversify its operations to reduce dependence on air passenger traffic as major source of revenue which he described as part of efforts to improve earnings and deliver returns to shareholders.