$2 Million Loss in Fraudulent Aircraft Leasing Deal Strategic Sacrifice to Protect Nigeria’s Aviation Image, Says Onyema
Air Peace founder and Chief Executive Officer, Dr Allen Onyema, has disclosed that the airline deliberately forfeited $2 million in a fraudulent aircraft leasing deal to safeguard Nigeria’s reputation in the global aviation community and preserve opportunities for local operators.
Speaking at the 29th edition of the League of Airport and Aviation Correspondents (LAAC) Conference, Onyema recounted how the loss occurred during a wet lease arrangement with a Tunisian leasing company.
According to him, after receiving payment, the company claimed it needed to take the leased aircraft for maintenance but never returned it nor refunded the money.
Onyema said he had the option to ground the aircraft but allowed it to leave to avoid triggering actions that could have resulted in Nigeria being blacklisted by international leasing firms.
“We took the hit so that Nigerian airlines would not be stigmatised. It was a conscious sacrifice for the collective good of the industry,” he stated.
The Air Peace boss emphasised that the decision has indirectly contributed to an improved leasing climate for Nigerian carriers, as global lessors are now showing more willingness to engage with operators from the country.
He used the platform to commend President Bola Ahmed Tinubu and the Minister of Aviation and Aerospace Development, Festus Keyamo, for their responsive leadership and commitment to sectoral growth.
Describing them as “leaders who listen to the industry,” Onyema urged the Federal Government to press ahead with reforms in leasing policies, legal safeguards, and insurance frameworks to ensure the gains made translate into long-term benefits for the entire aviation sector.
Onyema concluded by calling on stakeholders to work together to consolidate recent progress, stressing that the sacrifices made by individual operators must pave the way for a stronger and more competitive Nigerian aviation industry.
