Ethiopian Airlines has confirmed that the Nigerian government is no longer interested in establishing the proposed Nigeria Air joint venture.
The group’s Chief Executive Officer, Mesfin Tasew, made the confirmation in Dubai over the weekend.
Ethiopian Tribune, a major Ethiopian media outlet, quoted Taste to have said: “The Nigerian government has lost interest in partnering with a foreign airline.”
The Nigeria Air project was started by former President Muhammadu Buhari’s administration on July 18, 2018, .
However, two months later, it was suspended due to concerns about its relevance and sustainability. The airline was projected to incur $8.8 million in preliminary costs and $300 million in take-off costs.
In 2022, Ethiopian Airlines won the bid to manage Nigeria Air, agreeing to a structure where they would hold a 49 per cent stake, the Federal Government 5 per cent, SAHCO 15 per cent, and other investors 31 per cent.
Recently, the Federal Government indefinitely suspended the project.
