BY OLAPEJU OLUBI
Air Peace has achieved yet another historic feat with the arrival of a dry-leased Boeing 737-700 NG from AerCap, the world’s largest aircraft leasing company.
This marks Nigeria’s first successful dry lease in nearly a decade and consolidates international trust in the country’s aviation sector.
The milestone event, held at the Zulu Terminal Complex, Murtala Muhammed Airport, Lagos, drew an impressive audience of dignitaries, regulators, financiers and industry leaders.
In attendance were the Minister of Aviation and Aerospace Development, Festus Keyamo, the Irish Ambassador to Nigeria, Mr. Peter Ryan; Director General of the Nigerian Civil Aviation Authority (NCAA), Captain Chris Najomo; Managing Director of the Federal Airports Authority of Nigeria (FAAN), Mrs. Olubunmi Kuku and executives from Fidelity Bank, led by Managing Director/CEO, Dr. Nneka Onyeali-Ikpe.
They were joined by Fidelity Bank Executive Directors Dr. Ken Opara and Mr. Kevin Ugwuoke, alongside representatives from Boeing, AerCap, and Avolta International, all partners in what has been described as a transformative milestone for Nigeria’s aviation ecosystem.
Boeing’s Sales Director for Africa, Mr. Moore Ibekwe Jr., hailed the acquisition as “a landmark achievement for Nigeria and a testament to Air Peace’s operational excellence and commitment to growth.”
He noted that the transaction underscored the strength of collaboration between Boeing, AerCap, the NCAA, and the Ministry of Aviation, adding that it would boost regional connectivity, enhance safety, and create jobs across the value chain.
AerCap’s Vice President of Leasing, Mr. Gad Wavomba, corroborated, expressing pride in the partnership and commending Air Peace for its resilience throughout the complex process.
“This success was made possible through the Nigerian government’s support, the NCAA’s 83Bis Agreement and the cooperation of the Irish authorities,” he said, describing the dry lease as a major breakthrough for African aviation financing.
Fidelity Bank’s Executive Director, Mr. Kevin Ugwuoke, representing Dr. Onyeali-Ikpe, reiterated the bank’s confidence in Air Peace, describing the financing structure as “a natural evolution from wet-leasing to dry-leasing, demonstrating the airline’s maturity and the bank’s trust in its vision.”
He noted that the transaction represents “a bold step forward for both Air Peace and Nigeria’s aviation sector.”
For Mr. John Hines, Managing Director of Avolta International, Air Peace’s accomplishment goes beyond aviation success. “Airlines like Air Peace do more than transport passengers; they move commerce, dreams, and the heartbeat of a nation,” he said, applauding the carrier for its national impact and global outlook.
The Irish Ambassador, Mr. Peter Ryan, in his remarks, commended Air Peace for its leadership and for fostering a mutually beneficial partnership between Nigeria and Ireland.
He described the collaboration as “a bridge of shared prosperity built on trust, professionalism, and innovation.”
He also acknowledged the roles of AerCap, Boeing, FAAN, and the NCAA in enabling the achievement.
Delivering his keynote speech, Air Peace Chairman, Dr. Allen Ifechukwu Onyema, expressed deep appreciation to all partners and the Federal Government, especially Minister Festus Keyamo, “for championing reforms that created the enabling environment for this dry lease to happen.”
He reaffirmed Air Peace’s dedication to excellence, integrity, and the vision of connecting Africa through safe and reliable air travel.
“Air Peace will continue to expand its network and represent Nigeria with pride across the world,” Onyema said.
Keyamo, in his remarks, lauded Air Peace for “restoring global trust in Nigeria’s aviation system through professionalism and transparency.”
He highlighted ongoing reforms aimed at attracting investors, including the implementation of the IDERA framework and plans to establish a Nigerian Aircraft Leasing Company to make fleet acquisition easier for local airlines.
He also announced that the government was finalizing plans to rebuild the Lagos International Airport and modernize aviation infrastructure nationwide.
“Air Peace has set a new benchmark in African aviation,” Keyamo said. “This achievement demonstrates what’s possible when vision meets discipline and when the private sector partners with the government to move Nigeria forward.”
Olapeju is a journalist and aviation reporter.
