"They Stole Our $2 Million": Air Peace CEO Recounts How Tunisian Firm Duped Airline
Air Peace CEO Allen Onyema recounted how a Tunisian firm duped the airline of $2 million, leading to the loss of an Embraer E175 aircraft worth $100 million. Onyema spoke at the League of Airport and Aviation Correspondents' 29th annual conference, expressing the airline's decision to take legal action to protect Nigeria's image in the global aviation sector.
The foreign leasing company disappeared after receiving payment for the aircraft part. Onyema highlighted the challenges of securing funding in Nigeria, citing high interest rates and stringent collateral demands.
He called on the government to create a foreign exchange window for airlines and commended the administration for stabilizing the exchange rate. Onyema also mentioned the airline's plans to become a publicly listed company to strengthen its operational base and ensure stability.
Plus234Feed summary based on reporting from Legit NG. Read the original report below.
Read full article
Continue on Legit NG
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Air Peace Lost $2m To Tunisia-Based Firm – CEO Onyema
Ex-Minister Sirika Accuses Airlines of Sabotaging Nigeria Air Project
Tinubu’s Aviation Team Targets Lasting Fix for Airport Infrastructure Gaps — Air Peace Boss
Experts Identify Factors Militating against Affordable Financing for Nigerian Airlines
Consolidation on the table amidst airlines’ cash crunch
Financial Fragility Behind Systemic Problems in Aviation Sector, Says Sanusi
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
