Cost-Saving Move: Nigerian Airlines to Save N26.6bn Annually with Dry Leasing

Stakeholders in the aviation industry highlight the cost-saving benefits of domestic airlines shifting from wet leasing to dry leasing, potentially saving N26.6 billion annually. This transition is expected to lead to significant financial savings for Nigerian carriers, as dry leasing eliminates the need to pay for suspended crews and reduces operational costs.

Minister of Aviation and Aerospace Development, Festus Keyamo, has played a key role in enabling Nigerian airlines to access aircraft through the Cape Town Convention and Irrevocable IDERA agreements, ensuring a smoother leasing process and reducing judicial uncertainties for lessors.