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No hidden agenda in Medview’s dealings –Mgt

The management of Medview Airlines Plc has said that the pending suit instituted by its Chairman, Sheikh Abdul Mohsen Al Thunayan, has nothing to do with the operations of the carrier including the sale and leasing of aircraft. Al-Thunayan has a matter currently bothering on non-payment of his dividend which is pending at the Lagos Division of the Federal High Court.

In a statement made available to New Telegraph late yesterday, the airline explained that the Board at its meeting held recently, resolved to sell two of the company’s aircraft namely, B737-400 (5N-MAA) and B737-400 (5N-MAB) to reduce the company’s credit facility with the First Bank of Nigeria (and to restrategise its operations by acquiring two lower capacity aircraft.

This, it said, has become necessary due to the outbreak of the Covid-19 pandemic and how it is shaping the airline industry worldwide, stressing that the resolution was made pursuant to the request of the First Bank for the company to liquidate or reduce its indebtedness to the Bank. It further explained that the bank has also promised to continue its unwavering support to acquire the two aircraft even with their approval of the sale of 5N-MAA & MAB The notice of the meeting, according to the management, was given to all directors of the company, including the Nigerian Stock Exchange Commission(SEC) in line with the regulations guiding quoted companies.

 

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