Travel and tourism

Med-View battles bankruptcy, moves to sell two B737s

Indigenous operator, Med-View Airlines has formally informed shareholders, Central Bank of Nigeria (CBN), and the Nigerian Stock Exchange (NSE) of decision to sell two Boeing 737 aircraft in its fleet in order to pay off mounting debts as well as raise capital for operations.

Med-View, still reeling from the impact of the Coronavirus disease (Covid-19) pandemic on its business operations, like other indigenous carriers in the country, said the move is aimed at raising money for future operations and paying off its accumulated debts worsened by the health pandemic.
The airline has also accepted the resignation of two of its directors, Mr. Ayodeji AriyoGbeleyi and Alhaji Oladode Kachet Oyedele.
The airline gave the notice to its shareholders, the Nigerian Stock Exchange (NSE) as well as other Board members at a meeting which held, July 23, 2020.
Med-View plans to sell its Boeing 737-4D7 with registration 5N-MAA presently in Estonia and another Boeing 737-4D7 with registration 5N-MAB in Lagos.

The airline is also seeking approval of the return of the leased aircraft engine from lessor, Aeolus Engine Services Ireland to enable it preclude the payment of additional rent; engine number CFM5G3CI SN 857871.

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