Air Peace Loses $2m To Tunisia Leasing Firm

Air Peace Airlines has revealed that the airline lost a whopping $2 million to a fraudulent Tunisian leasing company in a wet lease deal.

Speaking at the 29th League of Airports and Aviation Correspondents (LAAC) Conference, which had the theme ‘Financing Nigeria Aviation, Risks, Prospects and Opportunities,’ the Chairman of Air Peace, Dr. Allen Onyema, said he made a deliberate sacrifice to protect Nigeria’s aviation image, saying opportunities have now opened up for local operators.

Onyema disclosed that after receiving the funds, the company claimed it was taking the leased aircraft for maintenance and never returned it or refunded the money.

He explained that he permitted the company to take the aircraft without grounding it to prevent Nigeria from being blacklisted.

According to him, the financial loss was a strategic sacrifice made in the interest of all Nigerian airlines.

He stressed that this decision indirectly helped pave the way for the improved leasing environment now taking shape in Nigeria. He also commended President Bola Ahmed Tinubu and minister of Aviation and Aerospace Development, Festus Keyamo, for their decisive leadership, describing them as genuinely listening to the industry and committed to its growth.

Onyema urged the continuation of reforms in leasing, legal protections, and insurance agreements, insisting that the sacrifices made by individual operators must translate into lasting benefits for the entire aviation sector.