Federal Government is set to announce a dry lease aircraft deal, the first in almost two decades, according to Festus Keyamo, Minister of Aviation and Aerospace Development.
Gatekeepers News reports that in an interview on Arise TV, Keyamo said the deal would be sealed in less than two weeks with a local airline.
Dry lease agreements are rare in Nigeria due to concerns by foreign lessors about safety and asset recovery. However, recent reforms have begun to restore confidence in the system, Keyamo said.
“In the next few days, perhaps less than two weeks, we are going to announce the first big deal that a local airline is having, that in the last maybe nearly two decades, they have never had a dry lease coming to Nigeria,” he said.
The minister noted that the deal would open the door for other local airlines to access similar arrangements, potentially bringing down ticket prices.
Keyamo also highlighted the recent approval for Air Peace to operate direct flights into Heathrow, London’s busiest airport, which he said was achieved through diplomatic engagements.
The development has already started to impact ticket prices, with Keyamo expecting fares to drop further in the coming months.
Beyond cheaper tickets, the minister noted that Heathrow access would enhance connectivity and position Nigerian airlines to benefit from interline and codeshare agreements.
