Med-View Denies Being in Financial Crisis Despite Sack of 60 Staff

October 15, 2018

By Modupe Gbadeyanka

The management of Med-View Airline Plc has denied media reports suggesting that the company is undergoing financial crisis.

This followed the disengagement of 60 members of its total workforce last week, which some said was a sign of the firm not being able to meets its financial obligations.

In a statement signed by the Company Secretary, Mr Abdullahi Adam Abdullahi, the airline operator explained that the affected workers were asked to stay away from work at the moment because of a restructuring being carried out by the firm.

Mr Abdullahi noted that the management of Med-View Airline has a “genuine intention” to recall the affected employees once “situation improves.”

According to the statement made available to the Nigerian Stock Exchange (NSE), this explanation was also made to the disengaged workers in the letter handed over to them.

“This is to formally notify shareholders and other stakeholders of Med-View Airline Plc on the reports that are being circulated in the media and to allay fears of the general public and shareholders on the insinuations that the company is going through economic crunch.

“In accordance with the provisions of Rule 17.10: Dealing with Rumour, Rulebook of the Exchange, 2015 (Issuers’ Rule), Med-View states that going by the realities of the prevailing economic situations, Med-View Airline Plc is currently restructuring in order to fully maximise its operations and prepare adequately for the challenges ahead.

“The management is working assiduously to ensure that two of its aircrafts that are undergoing C-Check will be added to its fleet in the next one month to boost its operations.

“In the course of this exercise, some staff, about 60 in number, were required to step aside as a result of downsizing with a genuine intention to recall them back as soon as situation improves as stated in the letter to the affected staff.

“The decision by management on this exercise though tough is predicated on the need to achieve the best result with a minimum but adequate work force. All the staff affected have been adequately communicated,” the statement said.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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