AerCap, the world’s largest aircraft leasing company, has commended Air Peace Limited, West and Central Africa’s largest carrier, for its exceptional financial discipline and integrity following the successful delivery of a dry-leased Boeing 737-700 Next Generation (NG) aircraft — marking the first dry lease transaction in Nigeria in over a decade.
Speaking at the arrival ceremony held at the Murtala Muhammed Airport Terminal 1 Hall, AerCap’s Vice President of Leasing, Gad Wavomba, hailed the milestone as “a historic moment for Nigeria and the region”.
According to him, the significance of this transaction extends beyond Air Peace, symbolising Nigeria’s renewed credibility in the global aviation leasing market. “It’s been over ten years since the last dry lease transaction in Nigeria. The country faced challenges that limited access to the global leasing market. Today, we are witnessing a turning point”, he said.
Wavomba credited the successful execution of the deal to collaborative efforts between multiple stakeholders. “We owe a lot of thanks to the Nigerian government for their initiatives, the Nigeria Civil Aviation Authority (NCAA) for facilitating the 83-Bis Agreement, the Irish Civil Aviation Authority, and the Irish Ambassador, who came from Abuja to support this process. But most importantly, we thank Air Peace. They trusted us, worked tirelessly, and demonstrated financial transparency and discipline every step of the way,” he stated.
The partnership between AerCap and Air Peace is being viewed as a major boost to global confidence in Nigeria’s aviation sector, paving the way for increased foreign investment, modern fleet expansion, and improved connectivity across Africa and beyond.
For Air Peace, the arrival of the Boeing 737-700 NG further strengthens its leadership in regional and international operations, underscoring its commitment to safety, operational excellence, and global best practices.
The airline, which has consistently embodied innovation, integrity, and national pride, continues to expand its footprint across Africa, the Middle East, and Asia demonstrating that strategic vision and financial responsibility can reposition Nigeria as a trusted partner in the global aviation market.
This collaboration also aligns with broader national efforts to reintegrate Nigeria into the international aircraft leasing and aviation finance ecosystem, enabling local carriers to access competitive leasing terms, enhance operational capacity, and contribute to economic growth and job creation across the sector.