AerCap Dry leases B737NG To Air Peace, Applauds Airline For Financial Discipline, Integrity

AerCap, the world’s largest aircraft lessor, has praised Air Peace Limited, West and Central Africa’s largest carrier, for its financial integrity and  discipline in securing the delivery of a dry-leased Boeing 737-700 NG,  a historic milestone for Nigerian aviation, marking the first dry lease transaction in over a decade.

Speaking at the airline’s dry lease arrival ceremony held at the Murtala Muhammed Airport Terminal 1 Hall, Gad Wavomba, Vice President of Leasing at AerCap, described the event as “a historic moment for Nigeria and the region.”

Wavomba emphasized the significance of the achievement, noting that a decade had passed without a dry lease transaction in the country, following a period during which Nigeria had been effectively blacklisted in the global leasing market due to regulatory and compliance challenges.

He highlighted the collaborative efforts that made the transaction possible: “We owe a lot of thanks to the Nigerian government for their initiatives, the 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.”

The partnership between Air Peace and AerCap represents a major step in restoring global confidence in Nigerian aviation, unlocking opportunities for fleet expansion, operational growth, and enhanced connectivity. For Air Peace, the addition of the Boeing 737-700 NG reinforces its position as a trailblazer in West and Central Africa, underpinning its commitment to safety, efficiency, and international standards.

Air Peace, which has consistently championed innovation, integrity, and national pride, continues to lead Nigeria’s private airline sector, pioneering international routes and demonstrating that financial discipline, strong partnerships, and strategic vision can overcome historical market barriers.

The collaboration underscores a broader effort to reintegrate Nigeria into the global leasing and aviation finance market, creating a framework for other indigenous carriers to access competitive aircraft leasing, strengthen operational capacity, and contribute meaningfully to economic growth and job creation.