After flight suspension, Green Africa acquires first owned aircraft 

…says asset financing provided by Access Bank

Green Africa, Nigeria’s Lagos-based value airline, has announced the acquisition of its very first owned aircraft, shortly after it suspended flight operations over aircraft lessor issues.

The incoming aircraft, an ATR 72-500 with manufacturer’s serial number 852 and registration mark 5N-GAB, is expected to enter into service shortly after customary regulatory approvals.

The airline said Access Bank provided a Naira debt facility to partly fund the aircraft acquisition. This development comes after the airline on Monday announced that it had to suspend its operations over aircraft lessor issues.

The airline had on Monday said  that despite efforts to manage the situation and avoid disruption, flights will remain grounded until after the Eid-Al-Fitr holidays. In a statement to customers, Green Africa expressed regret over the inconvenience and assured passengers that it is working to resolve the issue as quickly as possible.

“In line with our commitment to transparency in Green Africa, I am reaching out to keep you informed on a sudden and unexpected development with our aircraft lessor that prevents us from operating our flights over the next few days. Despite all efforts to manage the situation and avoid disruption to our operating schedule in the immediate term unfortunately we will not be able to operate until after the Eid-Al-Fitr holidays,” the airline earlier said.

Babawande Afolabi, Founder & CEO of Green Africa, said: “We are pleased to acquire our very first aircraft, another significant milestone for Green Africa.

“This incoming aircraft will be pivotal as we thoughtfully navigate the next phase of our journey to bring safe, affordable and reliable air travel to a broader group of customers in the region.”

Roosevelt Ogbonna, Managing Director / CEO of Access Bank, commented: “As one of the largest and leading financial institutions on the continent, we at Access Bank take special pride in supporting young businesses that have the potential to redefine their industries and act as major catalysts for positive impact in their local market and on the continent at large.

“We are impressed with the Green Africa story and excited about the brand’s future trajectory. We are delighted to support the acquisition of Green Africa’s very first owned aircraft.”

Green Africa was launched against the backdrop of COVID-19 and entered revenue service in 2021. Green Africa has since established a strong presence in the domestic market as one of the most affordable and punctual airlines in the industry.