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Ethiopian Airlines seeks stake in Air Nigeria

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The Bloomberg news portal has reported that Africa’s most successful airline, Ethiopian Airlines, was in talks to have a stake in Air Nigeria.

Nigeria’s government is seeking a strategic partner to invest up to $300 million and operate the new national airline, Nigeria Air, Elombah News has learnt.

Hadi Sirika, minister of state for aviation, on Wednesday said the government would not own more than five percent of the new carrier, called Nigeria Air. He made the comments while providing details of the airline at the Farnborough air show in England.

The government plans to launch the airline in December, making good on President Muhammadu Buhari’s election campaign promise.

The government has said that upgrading it will require private investment.

“The initial capital is likely to be in the range of $US 150 to 300 million, invested in tranches over time from start up through the first years of operation,” a government document stated.

It said the government will provide initial capital but did not state the sum or give further details.

The government will “facilitate the process for opening up the capital of the airline to private sector financial investors”, the document stated.

A private operator, sought through a Public Private Partnership (PPP) process, will manage the airline without interference, it said.

Abuja announced in 2017 that it was investing about $5m (£3.8m) to build a new national airline.

The government of Nigeria Officially launched a new national carrier, Nigeria Air.

The name and logo of the flier was unveiled in the United Kingdom at the Farnborough Airshow.

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