BY OLAPEJU OLUBI
AerCap, the world’s largest aircraft leasing company, has commended Air Peace Limited, West and Central Africa’s biggest carrier, for its remarkable financial discipline and integrity in successfully acquiring a dry-leased Boeing 737-700 Next Generation (NG) aircraft, Nigeria’s first dry lease deal in more than 10 years.
Speaking at the aircraft’s arrival ceremony held at Murtala Muhammed Airport Terminal 1 Hall, Lagos, AerCap’s Vice President of Leasing, Gad Wavomba, described the milestone as “a historic moment for Nigeria and the region.”
He noted that Nigeria had gone over a decade without a dry lease transaction due to global trust and compliance concerns that had kept the country on aviation’s leasing blacklist.
Wavomba credited the success of the deal to renewed regulatory confidence and Air Peace’s professionalism.
His words; “This achievement reflects collaboration and commitment at every level.
“We owe a lot of thanks to the Nigerian government for their initiatives, the NCAA for facilitating the 83-Bis Agreement, the Irish Civil Aviation Authority, and the Irish Ambassador, who came from Abuja to support this process. But most importantly, we thank Air Peace.
“They trusted us, worked tirelessly, and demonstrated financial transparency and discipline every step of the way.”
The partnership between AerCap and Air Peace, he added, marks a turning point for Nigeria’s aviation sector, restoring international confidence and paving the way for more global partnerships and financing opportunities.
For Air Peace, the addition of the Boeing 737-700 NG strengthens its dominance in regional and international markets, reaffirming its reputation for safety, efficiency, and operational excellence.
Industry analysts see the deal as a major boost to Nigeria’s image in the global aviation leasing market, signaling that local carriers can now access competitive financing under transparent and credible conditions.
By successfully executing the lease, Air Peace has not only expanded its fleet but also reignited global trust in Nigeria’s aviation ecosystem, showing that strategic vision, integrity, and disciplined financial management can overcome years of market skepticism and regulatory hurdles.
Olapeju is a journalist and aviation reporter.
