Nosa Osula Aituamen
Afreximbank has announced plans to launch a leasing subsidiary, which will soon take delivery of 25 aircraft to be leased to African airlines.
This initiative aims to provide airlines with access to dry-leased aircraft, enabling them to better service Bilateral Air Service Agreement (BASA) routes and domestic operations.
This was announced during the ongoing Aviation Economic Conference in Dublin, Republic of Ireland facilitated by Boeing’s Senior Director of Finance, Lereece Rose, which brought together key stakeholders to discuss aircraft financing opportunities for Nigerian airlines.
In a statement, Afreximbank, led by its Director and Global Head of Project and Asset-Based Finance, Helen Brume, agreed in principle to collaborate with Nigeria on aircraft financing.
Afreximbank affirmed its readiness to work with the Nigerian government, signaling a promising future for the country’s aviation industry.
Afreximbank, a 30-year-old development financing institution, has a primary mandate to promote trade across Africa.
Highlighting the bank’s extensive experience in supporting airlines such as Arik Air, Kenya Airways, and TAG over the past two decades, Brume emphasized the need for robust aviation infrastructure to enhance the competitiveness of African airlines.
Boeing’s Senior Director of Finance, Lereece Rose, commended Nigeria’s Minister of Aviation and Aerospace Development, Mr. Festus Keyamo for his efforts in improving Nigeria’s aviation ecosystem, particularly in raising Nigeria’s Cape Town Convention score from 49.5% to 75.5%.
In his remarks, Mr. Keyamo highlighted the critical need for partnerships that would enhance access to aircraft financing for Nigerian operators, facilitating growth and improved service delivery.
A committee has been established to follow up on the discussions, ensuring that this partnership materializes into actionable solutions for Nigerian airlines.