At the 29th Annual Conference of the League of Airport and Aviation Correspondents (LAAC), held in Ikeja Lagos, the Chairman and CEO, Air Peace Limited, Dr Allen Onyema and other panelists gathered to reaffirm aviation’s role as a driver of national development. The conference, themed “Aviation Financing in Nigeria: Risks, Opportunities, and Prospects”, served as a pivotal forum for dialogue on unlocking sustainable funding for the sector where Dr Onyema highlighted the persistent challenges of financing in the capital-intensive airline business. While carriers in Europe and North America access loans at around 5% interest, Nigerian operators face far higher rates and steep collateral demands, often involving personal assets, he added.
Dr Onyema speaker stressed that financial discipline and integrity are essential to winning back lender confidence, pointing to past defaults as a reason for banks’ reluctance to support aviation ventures. They urged operators to adopt transparent practices while calling on the government to create dedicated funding windows, especially for foreign currency needed to acquire and maintain aircraft, he stressed.
The Air Peace chairman used the forum to credited the current administration with stabilizing the forex market and opening the door for aircraft leasing deals. He recalled rejecting a $2 million settlement in a dispute with an international lessor, a decision he said helped protect Nigeria’s reputation and secure future leasing opportunities.
With leasing access restored, stakeholders believe airlines can now boost capacity, expand international routes, and strengthen their competitive edge in the global market.
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