Air Peace Chairman, Dr. Allen Onyema, has come forward with a remarkable story of sacrifice for the greater good of Nigeria’s aviation industry.
According to Onyema who was a panelist at an aviation conference last Thursday, the airline deliberately lost $2 million in a wet lease deal with a fraudulent Tunisian leasing company to protect the country’s aviation reputation.
The company took the leased aircraft for maintenance and never returned it or refunded the money, but Onyema said he allowed it to avoid Nigeria being blacklisted.
This strategic decision has indirectly paved the way for an improved leasing environment in Nigeria. Onyema praised President Bola Tinubu and Minister of Aviation, Festus Keyamo, for their leadership, noting they are committed to the industry’s growth.
He emphasised the need to continue reforms in leasing, legal protections, and insurance agreements to ensure individual operators’ sacrifices benefit the entire sector.
Onyema’s commitment to Nigeria’s aviation growth is evident in Air Peace’s expansion, despite facing challenges like $14 million in funds withheld by the Central Bank of Nigeria and 15 aircraft stuck abroad due to maintenance issues.
The airline’s resilience and determination have earned praise, with Fidelity Bank’s CEO Nneka Onyeali-Ikpe commending Onyema’s financial discipline and integrity.