The federal government has explained reasons why it suspended the national carrier project indefinitely.
According to a presidency source, The Economic Management Team, EMT chaired by the Vice President did not give the go-ahead.
The source explained that EMT recommendation is that government should not set up a national carrier with public funds.
He said “EMT wants the the ministry of transportation to, instead accelerate the search for a strategic investment partner who will finance and manage the new airline.
“In the absence of a borrowing plan for government participation, the President ruled against spending money that is not in the budget. Promoters of the idea of the new national carrier were therefore asked to work towards 2019 budget if any government investment is to be involved.
Recall that the airline, Nigeria Air, was unveiled in July at the Farnborough International Airshow in London and operations were scheduled to begin in December.
At the unveiling, Sirika had said the airline will be managed by private investors with the federal government owning a five per cent stake in the business.
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