Air Peace Reports $42M Loss from Aircraft Damage

Air Peace disclosed a loss of about $42 million in revenue attributed to repeated damage to its aircraft by ground-handling companies, specifically Skyway Aviation Handling Company Plc and Nigerian Aviation Handling Company Plc. Over the past 12 months, the airline has suffered three significant damage incidents, two of which occurred this year.

Efe Whiskey, the spokesperson for Air Peace, stated that on average, the handling companies damage their aircraft twice a year. The financial impact extends beyond repair costs, as the airline loses revenue while the aircraft are grounded.

The handling companies have agreed to pay $3.8 million for repairs to the most recently damaged aircraft and had previously paid $3.2 million for another aircraft damaged on Boxing Day. Additional costs include transporting damaged parts abroad for repairs, which can cost around $40 million, along with towing and cleaning expenses.

Whiskey expressed concern about the potential for future incidents based on historical patterns.