Nigerian Airline Acquires New Aircraft After Losing Leased Plane, Suspending Operations

• The management of a Nigerian Airline, Green Africa, has announced the acquisition of a new aircraft
• The development comes a few days after the airline announced the suspension of flight operations
• It later emerged that the company’s aircraft was repossessed by its lessor, leading to the new acquisition of the new aircraft, ATR 72-500

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.

A Nigerian airline, Green Africa, has acquired a new aircraft a few days after announcing flight suspension as its lessor reportedly repossessed its aircraft.

The new aircraft, ATR 72-500 with serial number 852 and registration number 5N-GAB, is expected to be launched shortly after the usual regulatory approvals.

Green Africa’s aircraft repossessed by lessor

Green Africa suspended operations due to what the management described as unforeseen circumstances.

It disclosed that despite efforts to manage the situation and avoid disruption, flights will remain suspended until after the Eid break.

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The airline expressed regret in a statement to passengers, assuring them that it was working to resolve the issue rapidly.

According to a Daily Trust report, the airline acquired the new aircraft with the help of a facility from Access Bank.

Green Africa partners with Access Bank

Babatunde Afolabi, Green Africa’s CEO, announced the company’s excitement over the new acquisition, saying the move was another significant milestone for the airline.

He said the incoming aircraft will be crucial to its operations as it tries to navigate the next phase of its journey to provide safe, affordable and reliable air travel to Nigerian passengers.

Access Bank’s Managing Director and CEO, Roosevelt Ogbonna, said as one of the leading financial institutions in Africa, the bank takes pride in supporting burgeoning businesses with the potential to redefine their industries and act as catalysts for positive impact on their local market.

NCAA releases airlines with high theft cases

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Green Africa was one of the airlines cited by the NCAA as having high incidents of theft and discourtesy in Nigeria in 2024.

In its Executive Summary on domestic and international flights, the Nigerian Civil Aviation Authority (NCAA) named airlines and the number of thefts and discourtesies on the Nigerian route.

Airlines with the highest thefts on domestic routes

On domestic flights, Air Peace topped the list with 404 cases out of 15,413 flights operated within the period. Arik Air had 396 cases out of 10,699 flights, Dana Air recorded 316 cases out of 1,446 flights, and Aero Contractors recorded 270 thefts out of 4,599 flights.

Others are Ibom Air with 238 cases out of 7,856 flights, Green Africa recorded 170 cases out of 4,215 flights, and United Nigeria Airlines recorded 131 theft and discourtesy incidents out of 7,794 flights.

Max Air recorded 84 cases out of 4,783 flights, overland recorded 52 thefts and discourtesy cases out of 3.407 flights, and NG Eagle had 35 cases out of 1,166 flights in the period under review.

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Air Peace shares the actual Cost of a one-hour flight

Legit.ng earlier reported that Air Peace, Nigeria’s largest carrier, says the cost of operating a one-hour flight surpasses N14 million.

Oluwatosin Olajide, the airline’s chief operating officer, disclosed this, saying that N7 million is needed to buy 4,000 litres of aviation fuel sold at N1,400 per litre in Nigeria.

According to her, for the aircraft, crew, maintenance, and insurance (ACMI), Air Peace spends about $4,000 for a one-hour flight.

Source: Legit.ng