World’s Biggest Aircraft Leasing Company to Invest in Nigeria's Aviation Industry, Gives Conditions
- Aercap and Boeing have expressed intent to partner with local airlines for business
- This, however, comes with the condition tied to the safety recovery of airlines from defaulters
- FG guaranteed airplane leasing companies the recovery of their leased assets to Nigerian airline
Legit.ng journalist Zainab Iwayemi has over three years of experience covering the Economy, Technology, and Capital Market.
Aercap, the world's biggest aircraft leasing company, and Boeing, the manufacturers of Boeing aeroplanes, have expressed their willingness to offer Nigerian carriers dry lease opportunities if the country meets certain conditions tied to aircraft recovery from airlines.
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This was made known during a courtesy visit led by Allen Onyema, the Chairman and Chief Executive Officer of Air Peace, to the Minister of Aviation, Festus Keyamo.
This is on the back of reports that Nigerian airlines have been navigating difficult curves for over a decade by lessors worldwide, according to The Nation's report.
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The local airlines have been blacklisted from such opportunities by global lessors who claimed the country had not helped in the recovery of aircraft from defaulting airlines in Nigeria.
FG to guarantee recovery of assets
As part of its effort to change the narrative, the federal government is committed to guaranteeing airplane leasing companies the recovery of their leased assets to Nigerian airlines if lease rentals are not paid as planned.
The Aviation minister expressed that the federal government is willing to enhance the ability of domestic airlines operating in Nigeria to compete in the international arena.
On this note, he said the government will guarantee the release of Lessors' assets to its owners from any defaulting Nigerian airline.
Due diligence needed
The minister also underlined that lessors should let the government know about the airline they are working with so that it can investigate the operator's financial standing and other important documents.
Onyema expressed gratitude to the Federal Government for its pledge to support Nigerian carriers. He stated that equivalent guarantees would be provided to lessors globally in principle.
He said:
“By the Minister’s promise today, the government has indicated that it is not paying lip service to its plan to provide lifeline and support to Nigerian airlines and a positive revolution in the aviation industry is now imminent.”
"Only N61,050": new airline NG Eagle commences flights in Nigeria, competes with Air Peace, others
Legit.ng reported that NG Eagle Airline has recently launched its services, marking a significant advancement for the Nigerian aviation industry.
The commencement of the airline's operations, as revealed in a statement by its Managing Director, Capt. AE Dare aims to enhance connectivity and convenience for travellers.
He added that the airline hopes to address the gap in domestic travel by offering cost-effective fares and providing passengers with high-quality services.
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Source: Legit.ng
