Nigeria to boost global aircraft acquisition, leasing market
Nigeria is set to play significant role in the global aircraft acquisition and leasing market as more indigenous operators and state governments involved in airline business conclude plans for more
Nigeria is set to play significant role in the global aircraft acquisition and leasing market as more indigenous operators and state governments involved in airline business conclude plans for more equipment procurement.
As some carriers , including United Nigeria Airlines, Air Peace, Enugu Air/ Xejet Airlines, ValueJets Airlines, Ibom Air, Edo Air, Eko Air, Gateway Airlines, Pioneer Airlines, Binani Air and others conclude discussions with aircraft lessors and original equipment manufacturers ( OEMs), the country will receive dozens of airplanes in the next few years.
Besides scheduled operators, investors in the air cargo value chain are also concluding discussions with airplane makers / sellers for equipment intended to flight operations into and out of Nigeria.
Sources hinted that major airplane manufacturers including Boeing, Airbus, Embraer and Bombardier are already extending their network of marketing into frontier markets such as Nigeria.
Sources hinted that the favour policies and robust operating conditions been created by the President Bola Ahmed Tinubu administration is pushing more investors into the airline business ecosystem.
Investigations reveal that more state governments are consolidating their frontiers into aviation, including procurement of aircraft under technical partnership with operations to connect their forms into into the national air link.
For instance, six state governments in the North East: Bauchi, Adamawa, Gombe, Yobe, Borno and Taraba have firmed up discussions with aircraft lessors and original equipment manufacturers to procure airplanes for their proposed airline.
Edo, Delta, Ekiti and other states are looking in similar direction.
Confirming the development, Chairman of United Nigeria Airlines, Prof. Obiora Okonkwo said the carrier has concluded plans to acquire 11 additional aircraft to boost its fleet.
The move, he said is part of the broader strategy to gain operational dominance as the airlines seeks to open more routes.
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New operator, K- Impex Airlines, sources hinted are also acquire g more equipment to boost their operations.
Investigations reveal that the the new policies of the Tinubu administration, which is deepening collaboration and improving investor confidence are triggers for more deals for airplane acquisition.
Speaking in an interview, Group Managing Director of FlinchGlow Holdings, Mr Bankole Bernard said the global aviation should watch out for Nigeria in aircraft acquisition as more players set footprints into the business.
Industry sources hinted that more cargo planes will be acquired by operators to deepen participation in the air cargo value chain.
Only last year, Nigeria got a clean bill to bring in more aircraft through leases as it was removed from the global blacklist.
This development came on the heels of the ratification of the Cape Town Convention Practice, which cleared encumbrances affecting the ability of lessors to repossess their airplanes on account of default in paying lease rentals by indigenous operators.
