Air Peace

Air Peace, one of Nigeria’s private airlines may expand its fleets very soon as it has signed an agreement with Boeing Corporation for the supply of 10 brand new aircraft. Chairman and founder of the airline, Allen Onyema signed on behalf of the company.

More jobs on the way

During the event, Onyema gave a rough estimate of the number of jobs that would be created following the airline’s expansion.

“one Boeing 737 MAX aircraft can give jobs to over 500 people. We are looking at the teeming unemployed youths in Nigeria.”

The airline currently owns 27 aircraft.

How much did they cost?

Onyema, however, refused to give the exact figures but hinted his company may have gotten a discount from an estimated tag of $130 million per plane.

“We are not even paying anything near it ($130 million). The support we are getting from Boeing and the American government is very massive.”

The new planes will also enable the airline to make huge cost savings, due to their fuel efficiency.

Air Peace was founded in 2013 by Allen Onyema but began operations in 2014. The airline currently flies across several destinations in and outside the country.

Founded in 1916 by Bill Boeing, Boeing is the world’s largest aerospace company and leading manufacturer of commercial jetliners, defense, space and security systems, and service provider of aftermarket support. As America’s biggest manufacturing exporter, the company supports airlines and U.S. and allied government customers in more than 150 countries.

Boeing products and tailored services include commercial and military aircraft, satellites, weapons, electronic and defense systems, launch systems, advanced information and communication systems, and performance-based logistics and training.

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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