December 4, 2022



Ethiopian Airways-led consortium named most well-liked bidder for Nigeria Air

Nigeria’s Ministry of Aviation has chosen a consortium led by Ethiopian Airways as the popular bidder for Nigeria Air, the nation’s new flag provider.

Ethiopian Airways can have a 49% stake within the new airline. Credit score: Civil Aviation Authority – Qatar.

The deal was executed below a public-private partnership mannequin.

Ethiopian Airways can have a 49% stake within the new airline, Nigerian Sovereign Fund will personal a 46% curiosity, whereas the remaining 5% stake will probably be held by the Nigerian federal authorities.

Nigeria Aviation Minister Hadi Sirika mentioned: “We’re going to initially herald six Boeing 737 plane, and between the third and fourth years, the airline will have the ability to purchase as much as 30 plane. Nigeria Air is a restricted legal responsibility firm that may don’t have any authorities intervention.”

Nigeria Air can have an preliminary capital of $300m and plans to have 30 plane inside 4 years, Sirika added.

A contract for 3 Boeing 737-800s has been finalised with Ethiopian Airways.

The Nigerian Authorities intends to finish all of the procedures, together with due diligence, contract negotiation, in addition to the issuance of a compliance certificates by mid-Nov-2022 and launch the provider by the tip of 2022.

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