List of Nigeria Air Investors As the Federal Government Takes Back Seat After Spending Billions
- A new report has shown that the Nigerian government has less control over Nigeria Air
- The new airline has several investors, but the federal government's portion puts it in the back seat.
- Ethiopian Airlines is the largest shareholder for the soon-to-be launch airline, followed by other investors before Nigeria
As Nigerians await the start of Nigeria Air operation, more information about the investors and who owns what has surfaced.
According to transaction data obtained by DailyTrust, the federal government is a minority shareholder.
According to the report, the federal government owns only 5% of the new airline, giving it less authority.
Source: Facebook
Interestingly, Ethiopian Airlines alone takes 49 per cent of the stakes, making it the largest decision maker for the planned national airline
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This is followed by another 46 per cent stake for MRS (also in the energy industry), SAHCO (aviation handler), among other investors.
One of the records reads:
“After a careful, detailed and ICRC governed selection process, Ethiopian Airlines (ET) Consortium has been selected as preferred bidder, offering an owner consortium of 3 Nigerian investors MRS, SAHCO and other institutional investors (46 per cent), FGN owning 5 per cent and ET 49 per cent.”
How the operation of Nigeria Air will work
According to the documents, the Infrastructure Concession and Regulatory Commission (ICRC) approved all the Outline Business Case (OBC), while the investors will develop a Full Business Case (FBC) for the ICRC and the Federal Executive Council to approve within six to eight weeks.
Planes for Nigeria Air
According to its expected operational plan, Nigeria Air will be launched with three Boeing 737-800 under a dry lease arrangement, starting in the first instance, with a shuttle service between Abuja and Lagos.
Other domestic destinations will follow thereafter, and perhaps regional and international flights.
FG begins recruitment of graduates, experts ahead of Nigeria air launch
Legit.ng reported that Nigeria Air Limited has commenced the recruitment of qualified crew members for its operation, which is expected to be launched shortly.
The aviation ministry disclosed this in a memo posted on its official Twitter handle on Friday.
According to the Memo, the positions are based in Abuja or Lagos, and competitive salaries are offered.
Source: Legit.ng
