Green Africa Airways Takes Ownership, Charts New Course in Nigeria’s Aviation Sector

Green Africa Airways has reached a pivotal moment in its journey, welcoming its first owned aircraft, an ATR 72-500, to its fleet. This landmark acquisition, partially financed by Access Bank Plc, marks a significant shift for the Nigerian carrier, which previously relied solely on leased aircraft. This strategic move positions Green Africa Airways for enhanced operational stability and growth, offering valuable insights for other African carriers navigating the complexities of fleet management.

The arrival of the ATR 72-500 at Lagos’ Murtala Muhammed International Airport on April 1, 2025, signals a new chapter for Green Africa Airways. This 16-year-old aircraft, formerly operated by Hi Air and Aurigny Air Services, is poised to play a crucial role in the airline’s plans to resume and expand its operations. This development underscores the growing trend among African airlines to transition towards aircraft ownership, enhancing control over their fleets and reducing reliance on leasing arrangements.

The move towards ownership comes at a critical juncture for Green Africa Airways. The airline recently suspended its commercial flights due to a leasing dispute with ACIA Aero Leasing, which involved three ATR 72-600 aircraft. With one aircraft grounded in Lagos and two others relocated to Morocco, the acquisition of the ATR 72-500 provides a vital lifeline, enabling the airline to regain operational control and chart a more independent course.

The financing provided by Access Bank Plc demonstrates the increasing role of local financial institutions in supporting the growth of Africa’s aviation sector. This partnership between Green Africa Airways and Access Bank not only facilitates the airline’s fleet ownership goals but also highlights the potential for innovative financing solutions within the African aviation market. This collaboration serves as a model for other African carriers seeking to secure funding for fleet expansion and modernization.

Green Africa Airways’ transition to ownership offers several key advantages. Owning aircraft provides greater flexibility in route planning and scheduling, allowing the airline to respond more effectively to market demands and optimize its network. It also reduces the airline’s vulnerability to leasing disputes and fluctuating lease rates, enhancing long-term financial stability and predictability. This enhanced control over its fleet empowers Green Africa Airways to implement its growth strategy with greater confidence and agility.

The airline’s decision to acquire the ATR 72-500 reflects a strategic focus on regional connectivity. This versatile aircraft is well-suited for serving Nigeria’s domestic routes, offering a balance of capacity and efficiency. The ATR 72-500’s ability to operate on shorter runways also expands access to underserved communities, further enhancing regional connectivity and promoting economic development. This focus on regional routes aligns with the broader trend of increasing domestic air travel demand within Africa, presenting significant opportunities for airlines like Green Africa Airways.

The airline’s journey since its launch in 2021 has been marked by both successes and challenges. Despite facing operational disruptions and fleet adjustments, Green Africa Airways has established a strong presence in Nigeria’s competitive aviation market. The airline’s commitment to providing affordable and reliable air travel has resonated with passengers, contributing to its growing market share. The acquisition of its first owned aircraft marks a turning point, positioning Green Africa Airways for a new phase of growth and expansion.

The airline’s strategic shift towards ownership has broader implications for the African aviation industry. As more African carriers explore ownership models, the landscape of fleet management is evolving. This trend towards greater control over aircraft assets can enhance the competitiveness of African airlines, enabling them to better serve their markets and contribute to the continent’s economic development. For African travel agents, this evolving landscape presents new opportunities to partner with airlines that are investing in long-term stability and growth.

Green Africa Airways’ fleet ownership milestone is a testament to its resilience and adaptability in navigating the complexities of the African aviation market. By embracing ownership, the airline is not only strengthening its own operational foundation but also contributing to the broader transformation of the industry. This strategic move positions Green Africa Airways as a leader in the Nigerian aviation sector, inspiring other African carriers to explore new pathways to growth and sustainability. For travel professionals across the continent, this development underscores the dynamic nature of the African aviation landscape and the exciting opportunities that lie ahead.