Afreximbank pledges to support African airlines with 25 aircraft

Afreximbank has said that it will support African airlines with 25 aircraft via a leasing subsidiary, to promote competitiveness. Helen Brume, Afreximbank’s project and asset-based finance director, disclosed this at the close of the Airline Economics Growth Frontiers Global in Dublin, Ireland. The conference, held from January 12 to 15 at the Mansion House in Dublin, brought together aviation professionals from around the world and focused on current developments and hot topics in the airline industry. According to Ms Brune, the aircrafts to be delivered soon will address the need for robust aviation infrastructure and enhance competitiveness among African airlines.
Ms Brune also spoke on the bank’s extensive experience supporting Arik Air, Kenya Airways, and TAG Airlines over the past two decades. She said that Afreximbank would specifically support aircraft financing for Nigerian airlines. “This initiative aims to provide Nigerian airlines with access to dry-leased aircraft, enabling them to better service Bilateral Air Service Agreement routes and domestic operations,“ she said. Ms Lereece Rose, Boeing finance director, commended aviation minister Festus Keyamo for his efforts at improving Nigeria’s aviation ecosystem. She commended Mr Keyamo for raising Nigeria’s Cape Town Convention score from 49.5 per cent to 75.5 per cent.
“This progress underscores the country’s commitment to creating an enabling environment for aircraft financing and leasing,” she said. Mr Keyamo underscored the critical need for partnerships to enhance access to aircraft financing for Nigerian operators, facilitate growth and improve service delivery. He said a committee, already established, would follow up on the discussions to ensure that the partnership materialised into actionable solutions for Nigerian airlines. (NAN)