By Timothy Oyomare
Worried by previous failed attempts to commence operations of a national air carrier, Nigeria has enlisted the services of Ethiopian Airlines to launch operation of Nigeria Air, the nation’s new national flag carrier.
This was sequel to a recent selection of a consortium led by Ethiopian Airlines to assist in the organization and kick-off of the new airline.
With a take-off capital of $300m, and plans to have 30 aircraft in the next four years, Nigeria Air plans to initially operate between Abuja and Lagos, with plans for further expansion to other routes in future.
Media Issues newspapers gathered further that government wants the new national carrier to compete favourably with other airlines hence it has opted for private partnership.
The establishment of a ‘Nigeria Air’ was one of President Muhammadu Buhari’s campaign pledges when he first won the presidency in 2015 and he is keen to see the promise implemented before he relinquishes office in May 2023.
Despite lots of skepticism, especially regarding the planned national airline’s relevance, sustainability and burden on the government budget, now the project is back in the works. In September, Ethiopian Airlines was revealed as the preferred bidder for shares in the new airline.
Under a new deal Ethiopian Airlines will own a 49% stake in Nigeria Air, while the Nigerian Sovereign Fund will take 46% and the Nigerian federal government the remaining 5%.
Ethiopian Airlines, Africa’s largest air carrier by fleet size, is seeking to build its regional network and add to its portfolio of stakes in airlines across the continent.
Ethiopian Airlines has a history of helping other continental carriers take off. In 2018, then-Ethiopian Airlines CEO Tewolde Gebremariam, outlined plans to found new African carriers across the region by helping countries to set up new companies or overhaul existing ones.
The airline has invested in carriers in Malawi, Zambia, Mozambique, Chad, and Togo and has this year been involved in talks with the government of the Democratic Republic of Congo.
-Northafricapost