Aviation: Is Nigerian MedView Airlines in Trouble after declaring profit as it trims West Africa Operations

med-view aircraft

There are speculations that all may not be well with one of Nigeria’s most profitable carrier, Medview airline following the suspension of most of its international operations.

The suspension of operations to most of it routes has raised concerns in the aviation industry and in the media.

A report by an online news medium, saharareporters.com, said the carrier might be struggling to keep its operations afloat.

It reported that the airline which once had about six aircraft in its fleet has suspended flight operations to Gatwick, London, Jeddah in Saudi Arabia and Dubai in the United Arab Emirates.

It said the airline suspended flight operations to London and Jeddah in February this year, while it had earlier in January stopped operations to Dubai.

In the sub-region, the airline has suspended operations to Dakar (Senegal), Accra (Ghana) and Abidjan (Cote D’Ivoire), but still operates skeletal flights to Monrovia (Liberia) and Freetown (Sierra Leone).

On the suspension of operations to Accra, SaharaReporters said it reliably gathered that the airline was indebted to the Ghanaian authorities, which had threatened to impound its aircraft if it operates into its airspace.

The report alleged that the number of aircraft in the fleet of the airline has reduced to two from six.
Reacting to the publications, Medview said the reports of its suspension of international operations are baseless, malicious and fraught with falsehood.

According to newsbulletinng.com, the Chief Operating Officer, Medview, Michael Ajigbotosho, said the four aircraft in its fleet are wholly owned by Medview Airline Plc, and not leased as being reported.

In setting the records straight, the aircraft being referred to were acquired at various times from Aerocap, and not from Thai Airways.

He said there was a lot of misinformation about the airline indebtedness to vendors, saying that anyone who wants to know the truth should reach out to the concerned agencies including FAAN amongst others.

The statement said in an ongoing business, it is normal to have agreements with service providers to give line of credit, which is a standard industry practice.

“The suspension of operations into some of our international routes has to do with our two aircraft- B767-300ER for cabin reconfiguration and B737-500 undergoing maintenance. They have nothing to do with threats or any debt burden.”

The statement said as soon as the aircraft return to service, the airline will restore operations to those routes.

“We frown at “Copy and Paste Journalism” and we encourage those who want to reflect the truth to balance their reports by reaching out to us as well as appropriate agencies.

The airlines stated that there was no way it would jettison it international operation also the yearly Hajj pilgrimage which it used as its launching pad into commercial aviation.

Medview airlines remains the only Nigerian carrier in the country that has declared profit in the aviation industry.
According to a report by atqnews.com, the Nigerian carrier said it recorded an increase of N10.87 billion revenue in 2017.

Alhaji Muneer Bankole, the Chief Executive Officer, Med-View Airline, made this known during the 2nd Annual General Meeting (AGM) of the airline in Lagos.

Bankole said that the company’s revenue had increased from N26.04 billion in 2016 to N36.91 billion as at December 2017.

According to him, profit before tax also increased from N840 million in 2016 to N1.50 billion in 2017.

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