Aviation Partners Africa - Weekly Blog - WK 2, 2025

Dear Partners, Clients, and Friends,

Welcome to the second edition of my weekly blog on aviation development in Africa.

This week marked an exciting start to the year as I attended the much-anticipated Airline Economics Growth Frontiers Global Conference in Dublin (January 12-15, 2025).

I flew into Dublin on Tuesday, January 14, on Ryanair. Flying another airline to Dublin felt as unlikely as visiting the city and not trying Guinness! However, in my excitement to attend the conference, I forgot to check in online; a rookie mistake when traveling with Low-Cost Carriers (LCCs). Ryanair charged me an additional ￡55 at the airport for my oversight. Ouch! Lesson learned!

When I got into Dublin, the conference was in full swing. The energy in Dublin was electric as lessors, financiers, airlines, and service providers gathered to network, forge deals, and connect in the global hub of aircraft leasing.

This year’s conference had a distinct difference: a stronger African presence, led by Nigeria’s Minister of Aviation, Hon. Festus Keyamo, alongside approximately 60 delegates from Nigeria. Dublin was buzzing with activity as airline executives, bankers, and regulators showcased that Nigeria is ready for business.

The Nigerian delegation stood out with a coordinated effort organized by Boeing, including impactful presentations held at AerCap, Avolon, and SMBC Aviation Capital offices. These sessions, backed by Nigerian Ministerial delegation, banks and Afreximbank, made a compelling case for leasing aircraft to Nigerian airlines.

The support of the Minister of Aviation, coupled with innovative bank-backed solutions to de-risk payment defaults, struck a chord with lessors.

The potential for African aviation is immense. Industry estimates suggest that African airlines will require 1,000+ new aircraft in the next decade, with 30% of this demand required in Nigeria. This presents a tremendous opportunity for lessors. I am sure they would like to play a role in Africa’s aviation growth.

However, challenges persist. Aircraft lessors are known for their meticulous legal and compliance standards, and African leasing deals often face hurdles during due diligence. While there have been attempts in the last 18 months to finalize deals, many fall short due to these stringent requirements.

Despite these challenges, the conference was a resounding success for African aviation, particularly Nigeria. An Irish lessor I’ve worked with over the years sent me the following message:

"Hi Manny, how are you doing? How is your week going? Seeing lots of new faces from Africa around this week. Has what you’ve been saying now caught on?"

This sentiment reflects a growing acknowledgment of Africa’s aviation potential.

Kudos to the Nigerian Minister of Aviation, Hon. Festus Keyamo, his team, and all the Nigerian delegates for their collaborative efforts and strong representation at the conference. Their unified presence sent a clear message to the leasing community: Nigeria is open and ready for business.

Having spent over 20 years in this fascinating and dynamic industry, I am filled with optimism about the growth potential of aviation in Africa, particularly Nigeria.

That said, there remains significant work to be done across the continent. We must continue addressing the challenges that make lessors hesitant, ensuring greater confidence to lease aircraft to African airlines with more ease and competitive terms. The future is bright, but it requires persistence and strategic?collaboration.

On a personal note, the conference was inspiring. I had the pleasure of spending quality time with Hon. Festus Keyamo and his impressive team, along with enjoying some delicious jollof rice!

It was also wonderful to reconnect with my partners, clients, and extended aviation family. I’m looking forward to collaborating with all of you to close the aviation gap in Africa. To my mentor: thank you for your unwavering support—it was a delight to see you!

Since my focus is Africa, I’ll say “Goodbye” in a different African language each week.

In Igbo:

Kèemes?a. (Goodbye)

Warm regards,

Manny Kanabe

Founder & Board Advisor

Aviation Partners Africa

Mobile: +44(0)7970486552

Email: [email protected]