Air Peace Makes History with AerCap Dry Lease of Boeing 737 NG, Boosting Nigeria’s Aviation Reputation

Valentine Ndukwu 3 days ago 2 min read

By Valentine Uchechukwu Ndukwu

Air Peace has achieved a major milestone in Nigeria’s aviation industry by securing a dry leaseof a Boeing 737-700 Next Generation aircraft from AerCap, the world’s largest aircraft lessor.

This marks the first successful dry lease transaction in Nigeria in over ten years a breakthrough that signals renewed international confidence in the country’s aviation market.

The official handover ceremony took place at Lagos’ Murtala Muhammed Airport, where AerCap’s Vice President of Leasing, Gad Wavomba, praised Air Peace for its professionalism, transparency, and financial discipline, describing the deal as a “historic moment for Nigeria and West Africa.”

A dry lease means Air Peace takes full responsibility for operating and maintaining the aircraft, a commitment that reflects the airline’s technical expertise and financial strength.

According to AerCap, the success of this transaction was made possible by strong cooperation from Nigerian regulators, including the Civil Aviation Authority (NCAA), and support from international partners such as the Irish Civil Aviation Authority.

The deal has not only restored Nigeria’s credibility among global lessors but also opened doors for other local airlines to access international financing and upgrade their fleets with modern aircraft.

With this new Boeing 737-700 NG, Air Peace strengthens its position as West and Central Africa’s largest carrier, expanding its reach to major routes such as London, Dubai, Johannesburg, Jeddah, and Mumbai.

The airline’s growing fleet and reputation for safety, integrity, and innovation continue to make it a symbol of Nigeria’s aviation excellence.

Analysts believe this partnership with AerCap is more than a business deal it’s a vote of confidence that shows Nigerian airlines can now compete globally with professionalism and financial discipline.