According to reports by the News Agency of Nigeria, NAN, Hadi Sirika, the Minister of State for Aviation has confirmed that Nigeria’s carrier airline will launch before the end of 2018 via a public-private partnership.
Sirika stated this last week as he received the Outline Business Case Certificate of Compliance for the establishment of the airline from the Director General of Infrastructure Concession Regulatory Commission, ICRC), Chidi Izuwah.
The proposed airline will cost over US$308 million; US$8.8 million preliminary cost and US$300 million as startup cost for over the next three years, the bulk of which would be contributed by the federal government.
The rest will be contributed by an investor, a strategic partner yet unknown, with external capital input dependent on the profitability of the airline in the next few years.
“The airline will make profit in three years after operations,” Sirika said. “We will make the investments and follow the business plan through private sector management. Though you need that initial government financing for take-off, what is important is that the national carrier will be entirely private sector controlled. There will be zero government interference. If that happens, it invalidates the certificate and the entire process,” he explained.
The intent is for the national carrier to have a fleet of 30 aircrafts in five years, but for a start, the country will receive a set of five airplanes on the 19th of December 2018.
As stated by Sirika, the name, logo, colour scheme, structure and the type of airplanes for the carrier will be unveiled at the Farnborough International Public Airshow on Wednesday the 18th of July in London.
And an order for aircrafts will also be made at the event.
