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DAILY BUSINESS NEWS BRIEF – National carrier needs $300m initial capital — FG

Home   /   NSE-Stats 24/09/2014   /   DAILY BUSINESS NEWS BRIEF – National carrier needs $300m initial capital — FG
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July 20, 2018
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in NSE-Stats 24/09/2014

 

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National carrier needs $300m initial capital — FG
The new national airline, Nigeria Air, will require initial capital of between $150m and $300m, and the Federal Government is seeking a strategic partner to operate the carrier, according to a document seen by Reuters on Thursday.The Minister of State for Aviation, Hadi Sirika, on Wednesday said the government would not own more than five per cent of the new carrier.The government plans to launch the airline in December, making good President Muhammadu Buhari’s election campaign promise.“The initial capital is likely to be in the range of $150m to $300m, invested in tranches over time from start up through the first years of operation,” the government document stated.Read More…]

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