Shettima Signs Cape Town Accord on Aircraft Lease

Deji Elumoye in Abuja 

Nigeria on Thursday signed the Cape Town Accord on Aircraft Lease, 20 years after it came into effect. 

The accord was designed to facilitate assets-based financing and leasing of aviation equipment, including aircraft. 

It also helps to expand financing opportunities and reduce costs, with the intended economic benefits.

Vice-President Kashim Shettima presided over the signing of the accord at the State House, Abuja in the presence of aviation stakeholders, including the Chairman of Air Peace, Allen Onyema. 

It was learnt that with the signing of the accord, Nigerian airline operators can now have access to aircraft Dry Lease, while passengers will now enjoy lower flight rates. 

Details later…