Medview Airline's revenue rises 49 percent on flight expansion in West Africa
Medview Airlines has reported its 2017 half-year revenue grew by 49 percent to N13 billion compared with N8.75 billion posted a year earlier.
The growth in Medview's revenue can be attributed to the recent addition of new routes in West Africa. In December last year, the airline began scheduled flight operations to Monrovia (Liberia) and Freetown (Sierra Leone) via Accra (Ghana) as part of its international expansion.
Given the strong topline growth, Medview said its after-tax profit rose 28 percent to N857.35 million as against N671.51 million a year earlier. An uptick in operating and finance costs moderated the airline's profit. The Nigerian carrier reported a total cash flow of N397.78 million in H1'17, down 24 percent from a similar period last year.
Founded in 2007 as a charter airline for Hajj operations, Medview Airline operates flight services to eight domestic destinations and five international destinations, including London via the Gatwick Airport. The airline has six aircrafts in its fleet.