Medview Certificate Withdrawal: Revenue To Be Impaired In 2019

Proshare

Friday, November 15, 2019   /  03:49 PM  /  By  Proshare Research  / Header Image Credit: Premium Times

 

Recent media reports suggest that there are plans by the Nigerian Civil Aviation Authority (NCAA) to withdraw the Air Operating Certificate (AOC) of Medview Airlines Plc over the prolonged shutdown of scheduled operations. The shut down of scheduled operation three months ago is linked to the maintenance of its operating aircraft at a maintenance facility. 

A cursory review of the Q3 2019 results of the company reflected that its gross revenue dropped by -87.2% from N7.89bn in Q3 2018 to N1.01bn in Q3 2019 while it recorded Loss After Tax (LAT) of  N1.04bn in Q3 2018 as against N3.13bn loss in Q3 2019. The imminent certificate withdrawal by NCAA suggests that the firm's revenue would be adversely affected in 2019.

 

Proshare Nigeria Pvt. Ltd.

 

YTD, Medview's share price has dropped by -10.00as against -14.60 YTD loss recorded by the NSEASI,  which implies that the share price of Medview outperformed the NSEASI YTD.

That said, the analysis on the share price of Medview, with its listing price, reflected that it has moved up by +20.00%.

Its share price has remained static in recent times. The share price is currently trading at N1.80k as at the close of trading on November 14, 2019, a price it attained on March 28th, 2019, representing about eight (8) months of no price movement. 

 

Proshare Nigeria Pvt. Ltd.

 

Proshare Nigeria Pvt. Ltd.


Related News

1.        MEDVIEWAIR Declares N3.13bn Loss in Q3 2019 Results, (SP:N1.80k)

2.       MEDVIEWAIR Notifies of Board Resolutions Made at the Meeting Held on July 31, 2019

3.       MEDVIEWAIR Notifies on the Company's Preparation for Hitch-Free Hajj Operations

4.       MEDVIEWAIR Notifies on Disengagement of Staff

5.       MEDVIEWAIR: Share Price Fails To React To News On Developments In Airline

6.       MEDVIEWAIR Declares N589.49m Loss in Q1 2019 Results, (SP:N1.80k)

7.        MEDVIEWAIR Declares N10.36 bln loss in 2018 Audited Results, (SP:N1.80k)

8.       MEDVIEWAIR Declares N1.53bn Loss in Q3 2018 Results, (SP:N1.93k)

9.       MEDVIEWAIR Declares N233.63m PAT in Q2 2018 Results, (SP:N1.93k)

10.   MEDVIEWAIR Announces Resolutions of Its Board Meeting

11.     MEDVIEWAIR takes Delivery of B777-200ER Aircraft for Hajj and International Operations

12.    Medview Airline Plc Announces Resolution of its Board Meeting

13.    MEDVIEWAIR Declares N210.56m PAT in Q1 2018 Results, (SP:N2.14k)




Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP