By Francis Ajuonuma
Air Peace Chief Executive Officer, Dr Allen Onyema, has disclosed that the airline deliberately forfeited $2 million to a fraudulent Tunisian leasing company to protect Nigeria’s aviation reputation and safeguard opportunities for local carriers.
Speaking at the 29th League of Airport and Aviation Correspondents (LAAC) Conference, Onyema said the loss arose from a wet lease arrangement in which the Tunisian firm received full payment but never returned the leased aircraft or refunded the money.
According to him, although he could have grounded the aircraft, doing so might have triggered sanctions or a blacklist against Nigeria in the international leasing market. Instead, he allowed the company to fly it out for “maintenance” to avoid tarnishing the country’s image.
Onyema described the financial hit as a calculated sacrifice made in the collective interest of Nigerian airlines, adding that the gesture helped pave the way for a friendlier leasing environment now emerging in the industry.
He commended President Bola Ahmed Tinubu and the Minister of Aviation and Aerospace Development, Festus Keyamo, for providing decisive leadership and listening to the concerns of operators.
The Air Peace boss also urged the government to sustain reforms in aircraft leasing, strengthen legal protections, and review insurance arrangements, stressing that sacrifices by individual operators must result in long-term structural gains for the entire sector.
