Lessor’s Aircraft Enable New Nigerian Carrier to Launch Commercial Operations in Efforts to Spur Regional Economic Development with Low-cost Air Travel

LAGOS, Nigeria–(BUSINESS WIRE)–#ACIAAeroLeasing–ACIA Aero Leasing (“ACIA”), a leading provider of regional aircraft leasing and lease management services, announced today the completion of a mandate to deliver a fleet of three ATR 72-600 aircraft to support the commercial launch of Nigeria’s newest low-cost carrier, Lagos-based Green Africa.

Seizing on the opportunity to launch a new value passenger airline amid the pandemic-induced market disruption, Green Africa laid out a roadmap for their market entry by deploying ACIA’s ATR aircraft to deliver low-cost, short-haul connectivity between Nigerian cities to stimulate the region’s economic development and business activity.

“We are thrilled to have partnered with Green Africa’s experienced local and international management team to get their airline off the ground while supporting their ambitious mission to spur regional economic development through increased connectivity,” commented ACIA Aero Leasing Chief Executive Officer Mick Mooney.

As the aviation community positions for the sector for its nascent recovery, start-up carriers, such as Green Africa, are economizing on the opportunity to sustainably enter into service, scale, and be better positioned to serve customers in a post-pandemic environment. Aided by the benefits of fuel-efficiency and advantageous operating economics of the latest technology ATR 72-600, Green Africa has introduced affordable fares and new city-pair options.

Babawande Afolabi, Founder & Chief Executive Officer of Green Africa, said: “Receiving our third aircraft today signifies Green Africa’s readiness to enter into service and start serving our customers. ACIA Aero Leasing has been a very supportive partner and we are proud of this relationship.”

“ACIA’s portfolio has a significant African focus and Nigeria is a core target market as we believe there will be significant growth,” asserted Elze LeRoux, ACIA Aero Leasing General Manager for Africa. “Our ultimate goal is to be a significant part of our customers’ long-term success. The team’s knowledge of African operations and the challenges faced by operators have been key to getting these first aircraft delivered to Green Africa.”

Green Africa plans to deploy the ATRs primarily across Nigeria between now and December 2022, with plans for expansion into the broader African continent and the addition of two to three new airport bases in Nigeria over the period of twelve to 18 months.

“Our commercial team continues to actively pursue opportunities to deliver financing options to our existing and potential customers, both within Africa and beyond. We can get deals done in environments from which other lessors might shy away, focusing on getting results for our customers and ensuring that the aircraft are delivered on time, despite the challenges that the pandemic continues to pose,” concluded Mooney.

About Green Africa

Green Africa is a value airline based in Lagos, Nigeria. The new airline will offer safe, reliable, and affordable air travel to a much broader group of customers and be a significant contributor to the economic development of Nigeria and the African continent. Founded and led by Babawande Afolabi, Green Africa has received its Air Transport License from the Nigerian Government and is now working closely with the NCAA to complete its AOC certification process. www.greenafrica.com

About ACIA Aero Leasing

ACIA Aero Leasing (“ACIA”), a subsidiary of ACIA Aero Capital, is a leading regional aircraft lessor with offices in Ireland, Mauritius, France, Canada, and South Africa. ACIA manages a current aircraft portfolio of over 50 regional passenger and freighter aircraft on lease to operators in more than 15 countries globally. Through our strategic partnerships, ACIA provides airlines with turn-key leasing solutions from dry leasing through to charter operations. www.aciaaeroleasing.com

Contacts

Media contact: Sophie McAuley, Zeevo Group

+1 334 373 4611 // +44 7921 188870 // smcauley@zeevogroup.com

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