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Ethiopian Airlines selected as the lead investor for the launch of Nigeria Air

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Ethiopian Airlines has been selected to become a technical partner and first investor in the planned new national Nigerian company, Nigeria Air.

The Addis Ababa-based airline was chosen even as the operational launch of the company is scheduled for June 2023. It was originally scheduled for this year in April with the logo, colors, and slogan having been unveiled on July 18 in London on the sidelines of the Farnborough Air Show.

Following the receipt of the Air Transport License ( ATL ) from the Civil Authority of Nigeria (NCAA) in June, the Nigerian government is moving ahead with its plan to meet the start date. The permit is valid from June 3, 2022, to June 2, 2027. Since a lead investor must own at least 51% of the shares of a public company, it is understood that the selection of Ethiopian Airlines as the lead investor in Nigeria Air suggests that the former will likely acquire a 49% stake later.

A source familiar with the matter told Ripples Nigeria that Ethiopian has the necessary equipment to start the new national airline, Nigeria Air.

With its fleet of Bombardier Dash-8 aircraft, which would be start-up equipment with the additional deployment of a few Boeing B737NG, the airline is said to be more than willing to help the Nigerian government realize its ambition as a national carrier.

 

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