- Med-View Airline Eyes Growth Opportunities, Investment in Nigeria
Nigerian carrier, Med-View Airline Plc, says it expects 2018 to be a year that will provide it with the opportunities for growth and investment, and within which it shall consolidate on past achievements.
The firm said it would take advantage of the projected growth the Nigerian economy would offer while also delivering value to shareholders.
The Chief Executive Officer, Med-View Airline, Alhaji Muneer Bankole, said this during the 2nd Annual General Meeting of the airline in Lagos while announcing that the company recorded a rise of N10.87bn in revenue for 2017.
“We also envisage that the year will not be without its own challenges, but the company is well positioned to overcome the challenges of the business environment,” he assured.
Bankole said the company’s revenue had increased from N26.04bn in 2016 to N36.91bn as of December 2017, adding that profit before tax also increased from N840m in 2016 to N1.50bn in 2017.
According to him, the lack of adequate government support for the aviation sector and the slow recovery of the country’s economy from recession are challenges the airline contended with.
These, it noted, affected the company’s operational activities during the year under review and hindered the rapid growth of the aviation industry.
“Notwithstanding, the company had navigated the challenging economic situation quite well,” he added.
He said the airline was currently negotiating with aircraft providers to add a new B737-800 and a modern B777-200 ER to its fleet to further boost its international operations.
According to him, the high maintenance cost and multiple taxes are still major factors plaguing the company, of which the year under review is not exempted.
The Med-Vew CEO said, “Our company’s excellent standing in the aviation industry in Nigeria and the sound capabilities of the management team has helped the company position itself properly in the face of these challenges.
“Med-View Airline has dealt successfully with the situation in the aviation industry due to the wealth of experience of its staff and management.”
