Nigeria Receives First Dry-Leased Boeing 737-700 in Over a Decade as Air Peace Becomes First Beneficiary

Follow

( 0 Followers )

X

Follow

E-mail : *

Follow Unfollow

In a historic development for Nigeria’s aviation industry, the country has received its first dry-leased Boeing 737-700 aircraft in more than 10 years, supplied by global leasing giant Aercap Holdings, with Air Peace emerging as the first beneficiary of the milestone initiative.

The achievement, spearheaded by Minister of Aviation and Aerospace Development, Festus Keyamo, senior advocate of Nigeria, (SAN) is part of President Bola Tinubu’s broader plan to liberalise and revitalise Nigeria’s aviation sector, encouraging greater private investment and international partnerships.

Speaking during the handover ceremony, Minister Keyamo commended Air Peace for its commitment to advancing Nigerian aviation standards and positioning the nation as a credible player in global air transport.

“This milestone represents more than a fleet expansion — it signifies a renewed confidence in Nigeria’s aviation potential. Under President Tinubu’s leadership, we are determined to open new opportunities for growth, safety, and international collaboration,” Keyamo said.

The dry lease arrangement — a model in which an airline leases only the aircraft without crew, maintenance, or insurance — is a strong indicator of improved investor confidence in the Nigerian market, experts noted.

Industry observers say this development could pave the way for more foreign lessors and financiers to re-engage with Nigerian carriers, further boosting operational capacity, connectivity, and regional competitiveness.