Falcon Aero, a Nigerian business aviation platform founded in 2022, has secured a US$10 million financing facility from TLG Capital and Wema Bank for its subsidiary, VivaJets.
The funding will enable VivaJets to retire legacy debt, expand its fleet, and enhance intra-African connectivity, as announced in a press statement on The Condia website on Wednesday.
TLG Capital, a British-owned African asset manager with over US$230 million in transactions across 20 African countries since 2009, partnered with Wema Bank to structure the long-tenor, USD-denominated facility.
The deal is reportedly the first internationally structured aviation financing for a Nigerian air operator.
The facility will allow VivaJets to focus fully on operations and improving the client experience, while also reducing the portion of revenue allocated to interest and debt service, said Tejumade Salami, Chief Operating Officer of Falcon Aero.
“TLG Capital (“TLG”) has closed a US$10 million facility for VivaJets, a subsidiary of Nigerian aviation services platform Falcon Aero, with financing structured alongside Wema Bank.
“Both TLG and VivaJets believe this to be the first internationally structured aviation financing for a Nigerian Air Operator, and funding will be applied to boost intra-African connectivity,” the statement read in part.
It further quoted Salami as saying, “In our industry, the ability to access long-tenor, USD-denominated capital is critical. With this facility, we have retired legacy obligations and can now focus fully on curating a seamless experience for our clients across the region. Our facility with TLG substantially reduces the amount of our revenue and cash flow that is spent on interest and debt service.”
The COO of Falcon Aero emphasized that access to long-tenor, USD-denominated capital is critical for sustainable growth.
More insights
Isha Doshi, Partner at TLG Capital, said the transaction highlights the importance of connectivity in Africa’s growth, highlighting VivaJets’ role in linking cities often overlooked by global capital, including tier-2 and tier-3 hubs where trade and opportunity are expanding rapidly.
- The deal also supports the development of skilled aviation professionals, including pilots, engineers, and other workers in Nigeria, he noted.
- Oluwole Ajimisinmi, Deputy Managing Director at Wema Bank, said the collaboration leverages TLG’s investment expertise and Wema Bank’s fiduciary capacity to provide critical financial support for Falcon Aero, bridging the financing gap for African businesses while maintaining strong risk discipline.
Legal advisers for the transaction were Wigwe & Partners and Hannaford Turner, with TLG’s deal team comprising Ayoola Oladipupo and Aum Thacker, and Falcon Aero’s team including Wura Adetiba, Kayode Adebiyi, and Seun Olajide.
What you should know
- VivaJets has logged over 2,000 flight hours and continues to expand its fleet to meet growing demand for charter services across Africa.
- Falcon Aero operates under a Nigerian Air Operator Certificate and provides aircraft charter, acquisitions, and management solutions to African businesses, executives, and high-net-worth individuals.
- The company currently operates a fleet of aircraft, with two additional aircraft scheduled to join this year.
