· The Airlines as per media reports will provide equipment, technical personnel, and management for Nigeria Air. Ethiopian Airlines will have 49% stake in Nigeria Air.
Ethiopian Airlines has won the technical bidding process to become Nigeria Air’s technical partner. It was reported that it scored 89/100 and 15/20, respectively.
The Airlines as per media reports will provide equipment, technical personnel, and management for Nigeria Air. Ethiopian Airlines will have 49% stake in Nigeria Air. Of the remaining shares, Nigerian Sovereign Fund has 46%, while the Nigerian Federal Government controls 5%. The initial capital of Nigerian Air is estimated to be around USD 300 million. It plans to have30 aircraft in a span of four years.
In order to ensure the airline’s success, the Federal Government of Nigeria will offer financial guarantees and fiscal incentives as well as facilities at various airports owned by the Federal Government of Nigeria and managed by the Federal Airports Authority of Nigeria.
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