Respite might have come the way of Med-View Airline as it joined two other airlines appointed by the National Hajj Commission of Nigeria (NAHCON) to airlift pilgrims to Saudi Arabia in this year’s hajj. In 2018, a total of 79,000 Nigerians attended the hajj pilgrimage out of 166,000 slots given to African pilgrims who constituted 9.5 percent of the 2018 hajj pilgrims.
“Med-View Airline Plc wishes to notify the Nigerian Stock Exchange (NSE) , esteemed shareholders, stakeholders and the general public that counting on its experience in the airlift of pilgrims since 2007, Med-View Airline has once again come atop as one of the three carriers the Federal Government selected for the airlift of Muslims for the 2019 Hajj. The choice of med-View Airline is rooted in existing strategic partnership with the National Hajj Commission (NAHCON, which transcends the normal brief to assisting the government agency in the airlift of stranded pilgrims in the holy land over the years.
Rising to the challenge, the CEO of Med-View Airline, Muneer Bankole, assured all stakeholders of a hitch-free hajj operations.
“Bankole said the management of Med-View Airline is fully aware of the operational challenges confronting the aviation industry in Nigeria, saying that no carrier is singled out from the hardship bedevilling the whole nation. He said the airline was repositioning for better performance amidst daunting challenges. The CEO said that the airline was undergoing a re-fleeting program, and some of the aircraft that were sent for scheduled maintenance will soon arrive to increase capacity , adding that there is ongoing discussion with strategic partners to pull resources together towards operational enhancement and capacity building. Bankole re-assured the airline’s shareholders, service providers and travel partners of better deals and value for their investments”, a notice to the NSE signed by Michael Ajigbotosho, COO, stated.
Revenue from hajj operations accounted for 31.71 percent of Med-View Airline’s 2018 revenue. In other words, the airline made N3.03 billion revenue from hajj operations in 2018 as well as N758.04 million as gross profit from the same segment. That year ended in a loss, no thanks to N1.48 billion loss the airline recorded in its domestic operations segment.
In 2017, Med-View realised N8.24 billion through hajj operations to account for 22.31 percent of that year’s revenue. It made N2.51 billion as gross profit from the hajj segment of its services. Its share price closed at N1.80 per share last week Friday.
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