Boeing 737-700NG leasing: AerCap praises Air Peace over financial discipline and integrity

An aircraft lessor, AerCap, has commended Air Peace Limited, West and Central Africa’s largest carrier, over its financial integrity and discipline that facilitated the smooth delivery of a dry-leased Boeing 737-700 NG, marking the first dry lease transaction in over a decade in Nigeria.

Gad Wavomba, Vice President of Leasing at AerCap, gave the commendation at the arrival of the aircraft at the Murtala Muhammed Airport Terminal 1 Hall recently and 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 737-700NG 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.