Nairametrics In a statement issued yesterday on its twitter handle, Medview airlines says its EU operations are operating as scheduled as the ban is a partial one. Here is a summary of the press release:
- The airline’s flights to London have continued as scheduled.
- The EU ban is a partial one as Medview can still operate with a ‘wetleased’ aircraft from an airline not subject to the ban.
- Medview uses a wetleased’ aircraft for its London operations.
- The airline has secured another wet leased aircraft from an EU member state to boost its foreign operations.
The statement does not mention the name of the airline that Medview is leasing its plane. Wetleasing of an aircraft involves using airline’s aircraft and crew for a fee. Other charges such as maintenance and insurance often form part of the wet lease agreement. While wet leasing is a common aviation practice, for Medview it will have several implications. The company will be at the mercy of foreign exchange volatility, as its revenues are in Naira while its costs are in dollars. A depreciation of the Naira against the dollar could lead to the airline running at a loss on the route.
