Green Africa, Nigeria’s value airline, has marked a major milestone with the acquisition of its first fully owned aircraft—an ATR 72-500 (MSN 852, Registration 5N-GAB). This step toward fleet ownership signals long-term stability and growth, reinforcing the airline’s commitment to providing affordable, reliable, and eco-conscious air travel. The aircraft is set to enter service soon after regulatory approvals.
The acquisition was partially financed through a Naira-denominated debt facility from Access Bank, one of Africa’s leading financial institutions. Since its launch in 2021, Green Africa has relied on leased aircraft, making this transition a significant move toward operational independence.
Babawande Afolabi, Founder & CEO of Green Africa, highlighted the significance of the acquisition: “Acquiring our first owned aircraft is a testament to the hard work of our team and the trust of our partners and customers. This aircraft will play a key role in our next phase of growth, allowing us to deepen our footprint in Nigeria and explore new routes across West Africa.”
Access Bank’s Managing Director/CEO, Roosevelt Ogbonna, reaffirmed the bank’s commitment to supporting industry-transforming ventures: “We prioritize financing ventures that drive economic transformation, and Green Africa perfectly embodies this vision. The airline has demonstrated resilience, innovation, and a strong value proposition since its inception. We are proud to support this milestone, which strengthens aviation infrastructure in Nigeria.”
This milestone comes amid a temporary operational suspension following the repossession of three Green Africa aircraft by ACIA Aero Leasing. The affected ATR 72-600 planes, initially supplied in June 2021 to support Green Africa’s launch, are now undergoing deregistration by the Nigeria Civil Aviation Authority (NCAA).
While the airline has cited “unforeseen lessor issues,” industry sources suggest the repossession was triggered by ACIA Aero Leasing using the Irrevocable De-Registration and Export Request Authorization (IDERA)—a legal tool that allows lessors to reclaim aircraft in the event of payment defaults.
The repossession has led to the grounding of Green Africa’s operations, with flights suspended until after the Eid al-Fitr holidays. Despite efforts to manage the situation and prevent disruptions, the airline acknowledged the impact on its customers and assured them of ongoing efforts to resolve the issue.
The sudden repossession of three aircraft has raised concerns within the aviation industry, highlighting the financial pressures faced by airlines and the increasing vigilance of lessors in protecting their investments. Passengers affected by the suspension have been advised to stay updated through Green Africa’s official communication channels.
As Green Africa navigates these challenges, the acquisition of its first owned aircraft marks a significant step in its long-term vision of growth and sustainability in Nigeria’s aviation sector.
