“The Request for Proposal (RFP) under the PPP act, governed by ICRC, is completed. After a careful, detailed and ICRC governed selection process, Ethiopian Airlines (ET) Consortium has been selected as preferred bidder, offering an owner consortium of three Nigerian investors; MRS, SAHCO and the Nigerian Sovereign Fund (46%), FGN owning 5% and ET 49%.
“The consortium has been subject to a due diligence process, after which the contract will be negotiated between the consortium and the FGN, leading to a Full Business Case, which will be expected to be approved by the Federal Executive Council (FEC). We expect this process to take 6-8 weeks”, he added.
He explained: “The money spent for the launch of Nigeria Air, for all the requirements to establish an AOC and be admitted starting an airline operation, is well within the 5% capital investment of the Federal Government of Nigeria, that will be overall needed to establish the National Carrier initially for the AOC approval and everything else required by stringent national aviation regulations, as prescribed in the FEC approved Outline Business Case (OBC)”.
The airline has began looking for existing and experienced B737 captains, first officers, cabin crews, and engineers, the minister noted.
Sirika confirmed that a provisional executive team comprised of extremely competent experts has been working since February 2022 to establish all essential legal and industry conditions to launch the national carrier.
“All Executives have been approved by NCAA, the Air Transport License has been issued by NCAA, Nigeria Air (after having identified the first three aircraft) will now finalize all necessary Operation Manuals and then go through the inspection and approval process of NCAA.