Air Peace Reports $15 Million Loss Following Lessor’s Sudden Aircraft Withdrawal

Nigerian carrier Air Peace has disclosed a $15 million operational loss and significant flight disruptions following the unexpected withdrawal of three aircraft by its wet-lease provider, Smartlynx Airlines. The airline’s Chief Commercial Officer, Mr. Nowel Ngala, announced the development during a press briefing in Lagos on Friday.

According to Ngala, the aircraft withdrawal occurred without prior notice while the planes were actively rostered for scheduled flights, creating immediate operational gaps that forced numerous flight delays and cancellations. The situation emerged while 13 of Air Peace’s own aircraft were undergoing scheduled maintenance abroad, prompting the temporary wet-lease arrangement with Smartlynx to maintain service continuity.

“This withdrawal constitutes a clear violation of industry standards and our contractual agreement,” Ngala stated. “What makes this particularly concerning is that Smartlynx had collected upfront payments from Air Peace, including over one million dollars in security deposits.”

The commercial officer revealed that the lessor attributed the decision to the aircraft owners’ instructions. While Air Peace has already released three aircraft in good faith, negotiations continue regarding the remaining aircraft and refund of outstanding payments.

Ngala contextualized this incident within broader challenges facing Nigerian carriers, recalling a previous situation where another lessor disappeared with over $2 million meant for aircraft maintenance. “These actions reflect systemic challenges Nigerian carriers face in international leasing arrangements,” he noted.

Despite current difficulties, Air Peace confirmed that two of its maintained aircraft have returned to service, with full operational normalization expected next week as more aircraft conclude maintenance. The airline emphasized that its international operations, including London flights, remain unaffected.

“We deeply regret the inconvenience to our passengers and appreciate their understanding,” Ngala concluded. “Air Peace remains committed to safe, reliable services and is taking all necessary steps to prevent future disruptions while holding defaulting partners accountable.”