Air Peace $2 million loss to foreign firm a sacrifice for Nigeria’s aviation reputation – Onyema

Air Peace \$2 Million Loss to a Tunisia-based leasing company was a painful but deliberate sacrifice to protect Nigeria’s aviation reputation, says CEO Allen Onyema

Air Peace \$2 Million Loss to a Tunisia-based leasing company was not just a financial blow — it was a calculated decision to protect Nigeria’s aviation industry from further damage.

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CEO Allen Onyema told aviation correspondents in Lagos that the foreign firm took the money for aircraft parts but vanished without fulfilling the deal.

Onyema said that if he had blocked the transaction or gone to court, Nigeria’s already fragile reputation in the leasing market could have suffered irreversible harm.

“It was a sacrifice we made for the good of other airlines in this country,” he explained.

He warned that costly funding, high interest rates, and scarce foreign exchange continue to burden Nigerian carriers.

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He urged the government to create a special forex access window to give the sector a fighting chance internationally.

Quadri Olaitan