Ethiopian Airlines acquires 45% shares of Nigeria Air, emerges core investor

September 24, 2022
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The Minister of Aviation, Hadi Sirika, has disclosed that Ethiopian Airlines has emerged the core investor in the Nigerian national carrier, Nigeria Air.

The Minister said that the Ethiopian Airlines emerged winner after meeting the bidding criteria and deadline and has acquired 45% controlling shares in the airline.

Sirika said that while Ethiopian Airlines has 45% equity, other consortiums hold 46% while the Federal Government will have only 5% equity in the carrier project.

The Aviation Minister also noted that the Federal Government spent less than N400 billion on the project as efforts are being made to launch Nigeria Air before the end of 2022.

Nigeria Air Limited in a statement on Friday, declared that the airline would launch operations with Boeing 737-800 (NG) aircraft, saying that B787 aircraft, which will be for international operations would follow thereafter.

The statement indicated that the Nigeria Air is now recruiting qualified crew for experienced, and current B737 Captains, First Officers Senior Cabin Crew and Cabin Crew as well as Engineers through an application portal.

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