New Telegraph

FG vows to safeguard aircraft leasing interests, signals

The Federal Government has pledged to safeguard the interests of aircraft leasing companies by ensuring the recovery of leased assets in the event of default by Nigerian airlines.
During a courtesy visit by Boeing and Aercap officials, led by Air Peace Chairman, Dr. Allen Onyema, Nigeria’s Minister of Aviation, Festus Keyamo, assured that the government was willing to provide guarantees for the recovery of assets, opening up dry lease opportunities for Nigerian carriers if certain conditions are met.

While global airlines benefit from partnerships with lessors, Nigerian airlines have faced challenges in securing such opportunities due to claims of non-cooperation in asset recovery.
Keyamo emphasised the government’s commitment to enhancing the competitiveness of local airlines on the global stage.

Highlighting a shift in approach, the minister assured lessors that the government would actively support the release of assets from defaulting Nigerian carriers, signaling a new era focused on creating an enabling environment for the country’s aviation sector.

Onyema expressed gratitude for the government’s commitment, stating that this assurance marks a pivotal moment, signaling a positive revolution in the aviation industry.
He also praised the Minister’s stance on Bilateral Air Service Agreement (BASA), highlighting efforts to protect Nigerian carriers during international negotiations.

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