Faith Nyasuguta
A consortium led by the Ethiopian Airlines will own a 49% stake in the new Nigerian airline, Nigeria Air Limited.
In addition, the Nigerian Sovereign Fund will own 46% and the Nigerian federal government the remaining 5%.
Currently, the Ethiopian Airlines also owns 45% of Zambia Airways, 49% of Guinea Airways, 100% of Ethiopia-Mozambique Airlines, 49% of Chad Airlines, and 49% of Air Malawi.
According to Aviation minister Hadi Sirikas, Nigeria Air would have an initial capital of $300, and will launch with service between the capital Abuja and Lagos, the commercial capital, then add other routes later on.
The airline is set to be launched with three Boeing 737-800 planes and plans to own 30 jets and operate international flights in two years.
The airline was one of President Muhammadu Buhari’s 2015 election campaign promises.
Nigeria has been seeking to set up a national carrier and develop its aviation infrastructure – currently seen as a barrier to economic growth – to create a hub for West Africa.
Nigeria Air Limited has already started the recruitment of qualified crew members for its operation according to the aviation ministry in a memo posted Friday.
“Nigeria Air is now recruiting qualified crew for the following positions: Experienced, and current B737 Captains; Experienced, and Current B737 First Officers; Experienced, and Current B737 Senior Cabin Crew and Cabin Crew Experienced, and Current B737 Engineers (B1/B2 preferred),” the memo noted.
The country’s defunct national carrier, Nigeria Airways, was founded in 1958 and wholly owned by the government. It stopped operations in 2003 due to corruption and mismanagement allegations.
