The Afreximbank has said that it will support African airlines with 25 aircrafts via a leasing subsidiary, to promote competitiveness.
Mrs Helen Brume, Director Project and Asset-Based Finance of Afreximbank, disclosed this at the close of the Airline Economics Growth Frontiers Global in Dublin, Ireland.
Freedomonline reports that the conference held from Jan. 12 to Jan. 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.
Freedomonline further reports that Afreximbank, a 30-year-old development financing institution, has a primary mandate to promote trade across Africa.
According to Brune, the aircrafts to be delivered soon will address the need for robust aviation infrastructure and enhance competitiveness among African airlines.
The director also spoke on the bank’s extensive experience in supporting Arik Air, Kenya Airways, and TAG Airline 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 (BASA) routes and domestic operations, “ she said.
Ms Lereece Rose, Boeing Senior Director of Finance, commended Nigeria’s Minister of Aviation and Aerospace Development, Mr Festus Keyamo, for his efforts at improving Nigeria’s aviation ecosystem.
She particularly commended 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.
On his part, Keyamo underscored the critical need for partnerships that would 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.
