PMB DOING IT AGAIN
NIGERIA AIRWAYS COMING BACK AFTER 30 YEARS
FG Confirms Date For National Airline.
FACTS TO NOTE.
~ The Nigerian government is not fully funding the airline as it has adopted midwifing it via the option of a Public Private partnership, to deliver a national carrier that would stand the test of time and be world class in operation and management.
~ Nigeria will receive the first set of 5 Airplanes for the Airliner on 19 December 2019.
~ The proposed Airline will gulp $8.8million preliminary cost and $300 million as take-off cost.
~ The airline will make profit in 3 years after operations.
~ “We will make the investments and follow the business plan through private sector management”.
~ “We intend to get a 30 Aircraft market in 5 years. But we will begin with 5 Aircrafts on the day of launch”.
~ “At Farnborough International Public Airshow coming July 18, 2019 in London, we will unveil the Name, Logo, Colour scheme, the Structure and the Type of airplane about the national carrier”. – Aviation Minister, Hadi Sirika.
~ Government would step in to cover the funding gap at the onset and ease out thereafter.
~ Government would not get involved in the management of the National Carrier.
~ The Airline would take advantage of Bilateral Air Service Agreement (BASA) that the country had with over 70 countries.
~ It will also take advantage of the Africa Single Air Transport Market and will be the best player if the government gets it right.
~ The government would bring its contribution to kickstart the Airline.
~ The amount of equity the partners would hold would determine government contribution.
~ The Start up cost over the next 3 years is about $300 million, but pre-start-up is $8.8 million.
~ The rest of the investment will be equity injection which will happen in tranches.
~ Government will provide financial needed to make it take off, but the National Carrier will be entirely private sector controlled.
~ There will be zero government interference.
~ The government will have to spend the pre-start up cost like the brand name, the office and other start up cost.
~ It will be a world class airline with domestic, regional and international operations.