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Home Business News

Medview increases fleet to compete with Air Peace but there’s a problem

Fakoyejo Olalekan by Fakoyejo Olalekan
July 2, 2019
in Business News, Company News
Medview Airlines to increase aircraft fleets, Medview Airlines get bank loan, Air Peace Boeing 737 Max, Medview, Medview

One of Medview Airline planes

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The Managing Director and Chief Executive Officer of Medview Airline, Munner Bankole, has disclosed that the company would increase its fleet of aircraft to compete better in the domestic market, however, a board decision threatens to be a stumbling block.

Bankole said Medview would re-introduce three planes previously disposed from Israel, Estonia and Aero Maintenance based in Lagos State. According to him, the planes are currently undergoing maintenance Aero Maintenance.

He said the re-introduction was to enable Medview compete better domestically in a market led by Air Peace and many local airline operators. Recall that airlines have been ordering and taking delivery of planes for some months now.

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[READ ALSO: Apostle Suleman to start airline business in Nigeria]

Medview opted for a bank loan to revive the planes and bankroll the major maintenance to boost its operation in eight cities across Nigeria, with Lagos, Abuja and Port Harcourt among its routes.

Medview Airlines to increase aircraft fleets, Medview Airlines get bank loan, Air Peace Boeing 737 Max
One of Medview Airline planes

“We have three classic aircraft, which are all due for C-check at the same time. One was in Israel, another was in Estonia and third was flying, but we got the money from the bank to put the second aircraft to use and so, it has been taken to Aero Maintenance base. I assure you that the third aircraft would soon be on ground because domestic operations is our major market. We promise to do more than expected,” he said.

Why this matters: The increase of fleet for operational use will create job opportunities, and Bankole disclosed that 50 cabin crew members and other ten workers will join the company when the planes commence operation. It has also been estimated that each aircraft would be yielding about N376 million in a month.

[READ ALSO: Air Peace’s 737 Max order blocked by politics as Boeing struggles to get certification]

“Expect a beautiful operation when the three aircraft would be fully operational and each aircraft would be yielding about N376 million in a month. We also assure you that we will not lease aircraft, therefore, we are working with a strategic partner in order to get a new aircraft into our fleet. Fifty cabin crew members have already completed their recurrent training while 10 workers have been recalled to join the training in preparation for operations,” Bankole revealed.

Medview Airlines to increase aircraft fleets, Medview Airlines get bank loan, Air Peace Boeing 737 Max, medview-airline-2
Interior of a plane

Is Medview shooting itself in the foot? Meanwhile, Medview’s Board has disposed one of its aircraft because of huge maintenance cost. This, Bankole said was “for the benefit of the company.” The decision, however, comes as a surprise considering the company’s plan to increase its fleet.

Air Peace, which boosts of 27 aircraft, has grown to become one of the most sought after domestic airline operators in Nigeria in less than six years of its operation, a significant growth when compared to Medview’s years of operation which started in 2007, with just about four planes in its fleet.

[READ ALSO: FAAN in recruitment scandal as politicians hijack process]

The ditching of the plane contradicts the CEO’s talk of competing better, because while Medview is dropping a plane and adding three, Air Peace plans to add ten to its fleet, as it intensifies international operation.

Having a large fleet of planes comes with many advantages. It enables airline operators meet their flight schedules amidst increase in air passengers globally. It reduces the number of cancelled flights and ensures replacement when an aircraft breaks down to avoid delayed flights. It also allows airline operators to be highly competitive. Considering these facts, Medview increasing its fleet only to drop an existing one, is a bump in its competition drive.

Note: Both Medview and Air Peace are customers of Boeing.

YOU SHOULD ALSO READ: Like Air Peace, Kenya Airways is sticking with Boeing 737-Max 8]


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Tags: Air Peace orders for Boeing 737 Max planesAir Peace orders for Boeing planesMedview Airlines bank loanMedview Airlines to increase aircraft fleets
Fakoyejo Olalekan

Fakoyejo Olalekan

Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ). In the era of media convergence, Olalekan is a valuable asset, with ability to curate and broadcast news. His zeal to write was developed out of passion to shape people’s thought and opinion; serving as a guideline for their daily lives. Contact for tips: fakoyejo.olalekan@nairametrics.com.

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Comments 2

  1. Stanley says:
    July 2, 2019 at 11:27 pm

    Better to dispose of a jet you can’t maintain for whatever reason, than to place passengers’ lives at risk. Businesses, especially airlines should put customer welfare (safety) first at all times.

    Reply
  2. 5NFGS says:
    July 4, 2019 at 6:57 pm

    Medview is not ready for flight, at all.
    Long haul was a joke, short haul has become laughable, hell even small Azman is WAY more reliable these days.
    I sorry for their shellholders sha, capital destruction on steroids.

    As for Air Peace, I’m a fan and wish them well.

    Let’s see how it goes

    Reply

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