Air Peace reports $42m revenue loss amid industry challenges

Air Peace has reported a revenue loss of approximately $42 million (N58 billion) due to aircraft being grounded following repeated damage caused by ground-handling equipment. The airline stated that three aircraft suffered major damage over the past 12 months, with incidents occurring at an average frequency of twice per year. While ground handlers such as the Skyway Aviation Handling Company (SAHCO) and the Nigerian Aviation Handling Company (NAHCO) are responsible for repair costs, the airline faces significant indirect burdens, including flight cancellations, passenger rescheduling, and additional operational expenses.

Separately, recent picketing of Air Peace operations by aviation unions has caused apprehension among international aircraft lessors and financiers. During an emergency meeting involving the Minister of Aviation and Aerospace Development, Festus Keyamo, and the Nigeria Civil Aviation Authority (NCAA), concerns were raised that such labor actions could lead creditors to review ongoing aircraft acquisition negotiations with Nigerian carriers.

In discussions regarding regulatory fees, Air Peace disclosed it has paid significant sums to the NCAA, including over N17 billion in Ticket and Cargo Sales Charges in 2025. The airline also reached an agreement with the NCAA to prorate a N12 billion debt related to Ticket Sales Charges for its London operations over a three-year period.