Ethiopian Airlines emerges core investor in Nigeria Air with 49% shareholding

Ethiopian Airlines is the preferred bidder for Nigeria Air, the Nigerian government said Friday, as it prepares for the commencement of operations of Nigeria’s new national carrier.

Aviation Minister Hadi Sirika said at a press briefing in Abuja that Nigeria Air will launch with a shuttle service between Abuja and Lagos to establish a new comfortable, reliable and affordable travel between the two major airports and that other domestic destinations will follow thereafter.

Ethiopian Airlines will own 49 per cent equity, the federal government will control five per cent equity, while a consortium of three Nigerian investors (MRS, SAHCO and the Nigerian Sovereign Fund) will have 46 per cent.

“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 the Nigerian Sovereign Fund (46%), FGN owning 5% and ET 49%,” the statement…

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