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Med-View Airline to Acquire B777, 737-800 Aircraft

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  • Med-View Airline to Acquire B777, 737-800 Aircraft

Medview Airline Plc plans to acquire Boeing B777 and Boeing B737-800 in order to add more international routes to its destinations as it begins flights to Dubai in July.

The airline’s Managing Director, Alhaji Muneer Bankole made this known recently in Lagos, disclosing that the aircraft to be acquired were already undergoing seat configuration from the Air France base in France.

“The aircraft as am talking to you is undergoing seat configuration from the Air France base, close to brand new seat on the Air France level. Business class seat is reduced to 24 from 30, so by the grace of God we are looking at the end of the month to the first week of June, the first one will be B777 while the second one will be B 737-800 which you are used to, but it is going to open your mind to the Jobourg route,” Bankole said.

According to him, the airline would start the Dubai route with two flights weekly, Tuesdays and Saturdays and subsequently would increase the frequencies to the busiest Middle East destinations.

“Dubai is two flights, Tuesdays and Saturdays, that is the one we are starting and London will increase from three to four which will go back to Mondays as you know we are doing Sunday, Friday, Wednesday as we are now back to three and as soon as the aircraft arrive that frequency will increase”

He explained further on the planned Dubai flights, “I will be honest to tell you that Dubai has been in the front burner for couple of two seasons, the rule of the game is for you to have a base, we have succeeded in getting the base, put employees on ground, work around the CAA (Dubai Civil Aviation Authority). We have gotten all the permits and now ready to open up the route. We make a suggestion of using a B777 and Boeing B767, so this is one of the reasons I went to meet our partner up there and by the grace of God, we are comfortable to bring one of these airplanes to join our fleet, and as we grow, we will continue to improve on our sector. We opened the West Coast last year and other Anglophone countries in the West Coast, we are hoping to open soon on the Francophone lane. This is what we have in the next two years.”

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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President Buhari Commissions 5,000bpd Modular Refinery Built in Imo State

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President Muhammadu Buhari on Tuesday commissioned the 5,000 barrels per day modular refinery built by Waltersmith Group in Imo State.

President Buhari, who commissioned the new modular refinery virtually, said the refinery will enable Nigeria to export petroleum products to neighbouring countries and other markets.

The 5,000 barrels per day Waltersmith Modular Refinery is the first phase of 50,000 barrels per day combined capacity plant planned for Imo State, according to the Group.

Buhari commended Waltersmith Group, an indigenous oil firm, and the Nigerian Content Development and Monitoring Board for the collaboration that led to the actualisation of the modular refinery.

President Buhari, therefore, directed the Ministry of Petroleum Resources, the Nigerian National Petroleum Corporation, the Department of Petroleum Resources and all other relevant government agencies to provide Waltersmith all the necessary support in terms of access to crude oil and condensate feedstock.

Buhari said, “We rolled out our refining roadmap in 2018, to address challenges in the downstream sector. After many years of government giving out modular refining licences without any coming on-stream, we are today seeing a commissioning within two years.

“The plan to commence the expansion of this refinery to 50,000bpd capacity, to refine crude oil and condensate, is a demonstration of the economic reform Nigeria is undergoing.

“The realisation of the refinery roadmap will ultimately lead us to becoming a net exporter of petroleum products, not only to our neighbouring countries but to other wide markets,” he said.

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Elon Musk Net Worth Jumps by $100 Billion this Year to Topple Bill Gates, Mark Zuckerberg, Others 

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Elon Musk, the Chief Executive Officer and founder of Tesla, is now the world’s second-richest person following another surge in the price of Tesla share.

Musk total net worth jumped by $7.6 billion to $110 billion between November 16 and 17 to dethrone Facebook founder, Mark Zuckerberg, from the third position.

Since then, Tesla stock has been on a bullish run and in the last 24 hours added $7.24 billion to Elon Musk’s total net worth, according to Bloomberg Billionaire Index. Bringing the billionaire’s total net worth to $128 billion.

Elon Musk’s net worth rose from just $28 billion in January 2020 to $128 billion on November 24, 2020, representing an increase of $100 billion, the highest by any billionaire.

Musk has finally toppled Bill Gates as the second richest person and for the first time, Bill Gates is the third richest man in the world. This is the first time in almost 40 years that Gates will be in the third position.

Billionaires listed on Bloomberg Index have collectively gained $1.3 trillion this year.

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An Average of 48% Global Consumers to Significantly Cut 2020 Holiday Spending

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Data presented by Buy Shares indicates that an average of 48% of global consumers plans to significantly reduce their 2020 compared to 2019. The research sampled consumer feedback from 13 countries.

Pandemic triggers reduced spending 

The data also highlights that an average of 13.46% of global consumers plans to spend more on 2020 holidays than last year. Consumers from Indonesia at 71% plan to shrink their budget in 2020 while 16% will spend more.

About 69% of Mexican consumers will spend less, while 12% plan for more spending. In Brazil, about 65% of consumers will cut their budget while 11% plan to spend more than last year. At 63%, South African consumers will cut back on holiday spending while 12% plan to increase their budgets from last year.

In Spain, 55% of consumers will reduce their spending while 7% plan an increase from a year ago. Italian consumers spending less will be at 54%, with 6% planning to increase their budget.

In India, about 47% of people will cut back on the holiday budget, while 36% plan to increase spending. French consumers at 44% have intentions of reducing holiday spending while 6% will raise the spending from a year ago. 43% of UK consumers will spend less, while 9% have plans to spend more.

In the United States, 42% of consumers will spend less, while 17% will increase the budget. For Germany, about 29% of consumers will spend less than 7% planing to pay more. It is only in China where more people plan to spend more at 29% than 25% planning to spend less at 25%.

Elsewhere, 21% of Japanese consumers plan to spend less, while 7% will pay more. The research highlighted some of the reasons behind the massive slash in this year’s holiday spending. According to the research report:

“The less spending comes as most consumers lost their jobs and faced pay cuts as employers struggled to remain afloat in the course of the health crisis. Some consumers have been saving more to pay debts, while those on stimulus paychecks cannot sustain daily needs and holiday spending.”

The research also notes that most Americans at 30% look forward to the Christmas holiday while 23% anticipate Amazon Prime Day. Only 7% of Americans look forward to Fathers Day.

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