By Felix OnuahABUJA, Sept 23 (Reuters) - A consortium led by Ethiopian Airlines is the preferred bidder for shares in new Nigerian airline Nigeria Air, the country's aviation minister said on Friday. Ethiopian Airlines will own a 49% stake in the new airline, while the Nigerian Sovereign Fund will take 46% and the Nigerian federal government the remaining 5%. Nigeria Air would have an initial capital of $300 million and plans to have 30 aircraft within four years, he said. Nigeria Air will launch with service between the capital Abuja and Lagos, the commercial capital, and add other routes later. "Nigeria Air is a limited liability company that will have no government intervention," he added.

Source: Ethiopian News September 23, 2022 20:44 UTC