Nigeria has selected a consortium including Egypt Air to set up an aviation leasing company as part of a government plan to overhaul the country’s aviation sector. EgyptAir Aviation Nigeria Egypt Africa
Decades of neglect and a lack of investment have left Nigeria with low-quality infrastructure seen as a hurdle to economic development. The government has said upgrading infrastructure will require private investment.
The Ministry of Aviation said on Monday it has picked the Egypt Air consortium for the aviation leasing company, which the government aims to set up as a private/public partnership. Most airlines in Nigeria want to expand their fleets, but high financing costs and currency risks have hampered growth. Nigerian airlines’ revenues are earned in naira while most of their costs are paid in U.S. dollars.
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