…Global Lessor Commends Airline’s Transparency and Financial Discipline in Landmark Deal
Nigeria’s leading carrier, Air Peace Limited, has once again raised the bar in the nation’s aviation industry with the successful delivery of a dry-leased Boeing 737-700 Next Generation (NG) aircraft from AerCap, the world’s largest aircraft lessor – a transaction that marks the first of its kind in Nigeria in more than a decade.
The historic deal has been widely celebrated by both local and international aviation stakeholders as a strong signal of renewed global confidence in Nigeria’s aviation market, which had long faced setbacks due to financial and regulatory concerns that previously hindered access to competitive aircraft leasing arrangements.
At a brief ceremony held at the Murtala Muhammed Airport (MMA) Terminal 1 Hall in Lagos to commemorate the aircraft’s arrival, AerCap’s Vice President of Leasing, Mr Gad Wavomba, hailed the event as “a historic moment for Nigeria and the entire West African region.”
“This is not just another aircraft delivery – it is a milestone that redefines confidence in Nigeria’s aviation sector,” Wavomba declared. “It has been over ten years since the last successful dry lease transaction in this country. We have seen remarkable effort, professionalism, and integrity from all the parties involved, particularly Air Peace.”
He went on to acknowledge the pivotal role played by regulatory and diplomatic partners in making the deal possible. “We owe special thanks to the Nigerian government for its support, the Nigerian Civil Aviation Authority (NCAA) for facilitating the 83-Bis Agreement, the Irish Civil Aviation Authority, and the Irish Ambassador, who came from Abuja to witness this milestone. Above all, we commend Air Peace for their transparency, financial discipline, and relentless commitment to excellence,” he said.
A dry lease, which requires an airline to assume full operational and maintenance responsibility for the aircraft, is a strong indicator of the airline’s technical capability, financial soundness, and regulatory compliance. In recent years, Nigerian carriers had found such transactions difficult to secure due to concerns from international lessors.
With this milestone, Air Peace has effectively restored Nigeria’s credibility within the global leasing community, opening the door for other domestic airlines to access international financing and modernise their fleets.
Industry observers believe the success of the Air Peace–AerCap deal will act as a catalyst for growth across the sector. The transaction demonstrates that Nigerian airlines can now meet global financial and operational standards, paving the way for greater investment and confidence in the country’s aviation industry.
For Air Peace, the acquisition of the Boeing 737-700 NG further strengthens its position as the largest and most ambitious carrier in West and Central Africa.
The airline, which operates one of the youngest fleets in the region, continues to expand its route network to key domestic and international destinations, including London, Dubai, Johannesburg, Jeddah, and Mumbai.
Over the years, Air Peace has built a strong reputation for innovation, reliability, and corporate integrity. Its consistent focus on safety and service quality has made it a preferred choice among passengers and a symbol of Nigeria’s private sector resilience.
The new lease agreement not only adds to the airline’s growing fleet but also reinforces its operational readiness for more long-haul and intercontinental flights.
It also aligns with the company’s long-term vision of deepening connectivity across Africa and beyond, while maintaining its commitment to the highest standards of safety and efficiency.
In the words of one aviation analyst at the event, “This partnership between AerCap and Air Peace goes beyond business – it is about trust rebuilt and confidence restored. It shows that Nigerian airlines can now play on the global stage with credibility and discipline.”
The AerCap–Air Peace collaboration has therefore become a defining moment in Nigeria’s aviation history – one that reaffirms the country’s re-emergence in global aircraft leasing circles and celebrates Air Peace’s unwavering pursuit of excellence, transparency, and national pride.
