Ethiopian Airlines has been chosen as the main investor and partner for Nigeria's forthcoming national airline, the African nation has confirmed.
Nigeria Air has been under formation for some time and has been gradually moving toward a full launch, subject to partner support. The biggest airline in Africa, Ethiopian, has recently demonstrated a readiness to engage in new businesses.
ThisDay reported that the federal government of Nigeria has officially selected Ethiopian Airlines (Ethiopian) as a partner for the much anticipated Nigeria Air.
The airlines will offered a 49% equity stake in the project, with the government contributing 51% as it is a private-public partnership. Notably, Ethiopian is adhering to its rule against funding start-up companies
