‘Med-View airlifts over 15,000 passengers on London route in 2016’

Despite the current economic downturn that has made many airlines reduce frequencies in the country, Med-View appears to be waxing stronger in the industry. In an interview with Ifeoma Okeke, Muneer Bankole, the Chief Executive Officer of Med-View Airline, speaks of the secrets behind the airline’s success and preparations on ground to list in the Nigeria Stock Exchange. Excerpt.

At this time that airlines are struggling to stay afloat as a result of the harsh operating environment, your airline seems to be doing so well. What is the secret?

Our secrets are sincerity to everything we are doing, honesty of purpose and commitment to the project. One thing everyone should appreciate is that God has purpose for everything and every moment of our lifetime. Nigeria is going through a trying moment. From aviation perspective, what we are going through is so enormous but at the same time we thank Almighty God and the government for having a listening ear. One of the windows given to us is waiver on importation of our spare parts. One other area to appreciate them for is the forex window, it does not come easily but they have given us confidence. Against what we went through in beginning of last year where we bought dollar at N490 but now the situation is better. Fuel is another area we have to be honest to the government to tell them that when they are giving out fuel, they should give it to the right people. They shouldn’t give it to a third party who will go and sell it again and before we get the fuel, it becomes very expensive.

Is the airline business a profitable one?

For any business, there are challenges. The beauty of airline business is that we diversify. There are so many legs that bind the airline business together. We can go into cargo, ticketing, aviation, tourism and charter services. We are into partnership with cargo; we are one of the major players in Hajj and we are into tourism and providing various packages for travelers.

Why should an investor consider investing in Med-View airline considering the fact that the airline has listed in the Nigeria Stock Exchange?

In the past we had challengers which were so enormous and Med-view is standing out because one of the major factors of our success story is that over 80percent of our team are experienced in the industry. We do what we know how to do best. Against myself, other CEOs may not have had the opportunity to have passed through aviation; they just came to invest in it. The difference is that everything we are saying here is the language of aviation which is coded and it is only people in the industry that can know it. As an airline, we believe in what we do, and we have integrity, so that people can take us for our word because once people are in doubt, your success may not last.

What plans do you have to raise fund in the stock exchange?

Presently, we have grown this company to a level that we believe that Nigerians and other foreign investors can participate in the project, to tell a story to everyone that aviation has a financial backup and exposure to dollars to give you grant for what you want to do.

Now Med-View wants to expand, twenty seven to thirty foreign airlines are coming into this country to eat into our economy. The money goes out. We are now telling people in Nigeria and diaspora to come in and invest. Nigeria is a country of about 190million people, there is no where you can find that number in Africa. It is not difficult no matter how small it is, people can participate. We have to change the orientation of Nigeria to let Nigerians know that they have a business to invest in that will give them a drive. The business is open and the potentials are enormous. This company started from nothing, it was just two partners who were discussing and thought of doing something considering the potential of the country. So, we started the journey together. Today the turnover of the company is going to N26billion. The money comes from the passengers. It is the best people can invest in because we have the liquidity available. Every day we fly 18flights and we get cash. The money goes into financial institutions and that is why we have grown to this level and it is time for the banks to partner with this company and give us loan. Today we have about six aircraft. In West Africa we are trying to network seven countries because we are supposed to cover 15 nations. In European world, about 18 countries are coming here. Domestic airlines need to go to more countries and grow the industry. It is an airline for Nigeria and made for Nigeria, it is just destined that it is me that will be used to sell this message today.

How much are you looking at raising?

The company’s worth presently is about N15billion to N20billion. We are looking at 20percent of that amount, which will amount to N4billion naira to start up. We can even do more than this.

What if the government proposes to make your airline a national carrier, will you accept the offer?

Yes, I will accept it. The government has no business being in the aviation business. When we were in New York, when we see the green white green colours in Nigerian Airways, we are happy. We go to the airport just to see our people coming back home but today we don’t have such experience. That is why the colour of Medview carries the Nigerian symbol; this simply demonstrates love for our country.

How can Nigeria address the issue of stored Nigerian Aircraft littered around our airports?

The stored aircraft that are kept in the airports should not be there for people to see because at every approach and departure of an aircraft, that is the route they taxi to take-off. So, people looking at the right hand side, it sends a bad message. I will encourage the Federal Airports Authority of Nigeria, (FAAN) to take it to a different location where students can have access to it. Any airline that has aircraft that are not useful anymore can be kept in a museum so that people can come and learn from it. They can learn about most of the components and know if it is something they will like to go into.

Is there anything you want to raise in the industry?

Aviation is the only thing that can sell the country. It is intangible, Nigerians are found anywhere in the world and that is why we need to support the country. In the last 12months, we airlifted 15,000Nigerians from London. It is only in Med-View, you see Nigerian cuisine and our caterers are Nigerians.