Medview airlines lists on Nigeria Stock Exchange
Medview Airlines listed on the Nigerian Stock Exchange today as the flag carrier plans to expand its route network and acquire more aircraft to boost its operations. Muneer Bankole, CEO Medview Airlines joins CNBC Africa to discuss this development.
Tue, 31 Jan 2017 13:58:03 GMT
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AI Generated Summary
- Medview Airlines marks a historic milestone by listing on the Nigeria Stock Exchange, showcasing its growth from two leased aircraft to a fleet of six through strategic planning and financial prudence.
- The company's CEO, Muneer Bankole, emphasizes the patriotic mission of connecting Nigeria's population and diaspora through air travel, highlighting the industry's profitable and innovative potential.
- Medview Airlines sets ambitious targets for the future, aiming for a turnover of 76 billion in the next five years and planning gradual expansion into West Africa, South Africa, Dubai, and potentially the United States.
Medview Airlines, a prominent player in the aviation sector, made a groundbreaking move today by listing on the Nigeria Stock Exchange. This milestone marks a significant moment for the company as it aims to expand its route network and acquire more aircraft to enhance its operations. CEO Muneer Bankole shared insights on the historic event, highlighting the company's journey from humble beginnings to its current position as a leading airline in Nigeria and beyond.
Bankole expressed gratitude for the pivotal moment, emphasizing the importance of this achievement for Medview Airlines both domestically and internationally. Starting with just two leased aircraft, the airline has grown its fleet to six, showcasing remarkable progress fueled by its cash flow and strategic vision.
With a keen focus on serving Nigeria's population of approximately 170 million, Bankole underscored the patriotic sentiment driving Medview's mission to connect the nation and its diaspora through air travel. Drawing on his extensive experience in the industry, spanning over 40 years, Bankole highlighted the industry's growth potential and profitability, emphasizing the significance of innovation and sustainability in the aviation business.
Despite the challenges faced by the aviation sector in recent years, Medview Airlines has demonstrated resilience and financial prudence, reflected in its impressive growth from 3.6 billion to 26 billion in just five years. The company's expansion into regional and international operations, as well as its venture into cargo business in partnership with Saudi airline cargo company, has contributed to its success.
Looking ahead, Medview Airlines has set ambitious targets, aiming to achieve a turnover of 76 billion in the next five years. Bankole outlined the company's growth strategy, emphasizing the gradual and strategic approach to expansion. With plans to extend operations to West Africa, South Africa, Dubai, and potentially the United States, Medview Airlines is poised for further success and recognition on the global stage.
As investors and stakeholders eagerly follow Medview Airlines' journey, Bankole's vision for the future reflects optimism and determination, underscoring the airline's commitment to sustainable growth and excellence in the aviation industry.