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Nigeria Airways Coming Back After 30 Years: Detailed Inside

Buhari Sends Four Bills Back To NASS, Witholds Assent

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Nigeria Airways Coming Back After 30 Years: Detailed Inside

PMB DOING IT AGAIN

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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 2018.

~ 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, 2018 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.

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