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Firm mulls $20 billion investment in Nigeria
  • Post by Admin on sunday, March 05, 2015

An indigenous aviation firm, African Aircraft Leasing Company (AALC), plans to invest about $20 billion in the country to facilitate the leasing of aircraft for local operators. It is also contemplating the establishment of an aircraft maintenance repair and overhaul centre, spares logistics and supply, as well as provision of other aggregated services solutions.

Its Executive Director, Spring Fountain Infrastructure Limited, Mrs Tokunbo Fagbemi, said the firm would partner the United States- based aircraft manufacturer, Boeing Corporation to roll out the services.

Speaking on Monday at the agreement signing ceremony between Boeing and Spring Fountain Infrastructure in Lagos, she said the aircraft leasing firm, the first in Africa, would create window for local operators to access 200 Boeing aircraft in the next 20 years.

Indigenous operators, including Air Peace, have described the aircraft leasing window as one of the best things to happen to Nigeria, given the hurdles operators face in their bid to get aircraft from foreign lessors.

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