Med­view Air­line's rev­enue rises 49 per­cent on flight ex­pan­sion in West Africa

Financial Nigeria Magazine - - Finance -

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.

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