…Returns to London operations
Set to commence airlift of pilgrims for 2018 pilgrimage to holy land in Saudi Arabia and return to its Lagos-London route operations, management of Med-View Airways Plc; on Thursday, took delivery of its newly acquired B777-200ER, even as it considers going for the Initial Public Offering (IPO) to boost its investment capital.
Speaking at two different fora, the Hajj Terminal of the Murtala Muhammed Airport, Lagos and at the 22nd Annual Seminar and Awards of League of Aviation and Airport Correspondents (LAAC) held at Sheraton Hotels and Suites, Ikeja, Lagos on Thursday, the Chief Executive Officer of the airline, Alhaji Muneer Bankole said the delivery of the aircraft was a dream come true.
He added that ‘the lease-purchased aircraft was made possible after First Bank intervened in the wake of crisis some months ago’.
He noted that the aircraft would be used during the hajj operations which commence on July 25, adding that it may then be deployed to London route afterwards, while it awaits return of the one undergoing reconfiguration soon.
“We have to give thanks to God, it’s like a dream come true, I use this opportunity to thank all my colleagues that have worked tirelessly to get this dream to light. This is one of our plans; over the years, we have been leasing aircraft for hajj /international operations which have consumed much of our foreign reserves; so, at the beginning of this year, it was one of our dreams that it will be the end of leasing for international operations. The cost is high when you lease, you invest so much money, both the capital and the equipment, and you don’t get something in return because the money goes out of the economy, so we use this opportunity to thank God and First Bank.
“And in the wake of challenges, we have to address and present it to the bank and First Bank gave us a 10 percent window which empowered us to get this airplane. This airplane is a leased-purchase aircraft from Atmax, our partner in Canada, John Biden and his colleagues took a bold step, they said a lot people are afraid to invest in Africa but he said he will work with us for a change. We are expecting two more jets”, he said.
Meanwhile, the CEO of Medview airline has disclosed that the management of the airline is set to go to the Nigerian Stock Exchange (NSE) for the Initial Public Offering (IPO) of its shares.
An Initial Public Offering (IPO) is when a private company or corporation raises investment capital by offering its stock to the public for the first time. Growing companies seeking capital to expand are those that generally use this window, but large, privately owned companies or corporations looking to become publicly traded also explore the opportunity.
Bankole told journalists at the 22nd annual seminar and awards of League of Aviation and Airport Correspondents (LAAC) held at Sheraton Hotels and Suites, Ikeja, Lagos that the airline’s shareholders have been informed of the move.
“You know we went on listing and we are in the stock market and this year by the grace of God we will do the IPO. Our shareholders have all being informed, we also informed that about the acquisition of this aircraft, he disclosed.
It would be recalled that the Nigerian Stock Exchange (NSE) on Tuesday, January 31, 2017, listed by introduction 9.75Billion (9,750,649,400) ordinary shares of Med-View Airline at N1.50 Per Share on its Main Board.
The airline is one of Nigeria’s foremost airlines, airlifting more than 3m passengers and 46m tons of cargo (annually) to 14 local, regional and international destinations, including London, Accra, Jeddah, Abuja, and Lagos amongst others.
