Air Peace Orders 30 Aircraft in $2.1bn Deal With Embraer

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  • Air Peace Orders 30 Aircraft in $2.1bn Deal With Embraer

Air Peace says it has signed a $2.1bn (N756.5bn) agreement with Brazilian aircraft manufacturer, Embraer for the purchase of 30 new planes.

The airline said the deal, which was unveiled on Wednesday, during Embraer Business Meeting with the Aviation World in Port Louis, Mauritius, made it the first to order the brand of jets in Africa, thereby becoming the official launch customer of the brand of aircraft on the continent.

According to the airline, the order is for 10 brand new Embraer 195-E2 aircraft and comprises purchase rights for a further 20 E195-E2 jets.

In a statement signed by its Corporate Communications Manager, Mr Chris Iwarah, the airline described the aircraft as a 124 seater jet in dual class and 146-seater jet in single class configurations respectively.

“With all purchase rights exercised, the contract has a value of $2.12bn based on current list prices,” Iwarah said.

Air Peace had in September 2018 ordered 10 new aircraft from Boeing, increasing its fleet size then to about 37 aircraft.

Iwarah said with the new order, Air Peace’s fleet size had increased to 67 aircraft.

The Chairman and Chief Executive Officer, Air Peace, Mr Allen Onyema, was quoted to have said, “Embraer’s new E195-E2 presents us with a marvel of an economic performance.

“It’s also great that we will be the first E2 operator on the African continent. We already have the ERJ145s in our fleet, so we understand the high standards of Embraer products.”

The E195-E2 aircraft, he said, would strengthen Air Peace’s drive to deploy the right kinds of aircraft to underserved and unserved domestic and regional routes under its no-city-left-behind project.

Onyema also commended President Muhammadu Buhari for creating an enabling environment for the growth of aviation in the country through waving customs duties on commercial aircraft, engines and spares as well as granting Value-added Tax Waiver.

“Without these noble gestures from my President (Muhammadu Buhari), Air Peace would not have been able to achieve this growth. Thank you very much, Mr President,” he said.

The Vice-President, Sales Africa, Embraer Commercial Aviation, Mr Raul Villaron, was also quoted to have said Air Peace embodied the kind of pioneering spirit Embraer loved.

“The airline was established to bring highly skilled work opportunities to the people of Nigeria, boosting connectivity, and therefore the economy, in the region. Air Peace has delivered on both aims, while at the same time developing a fast-growing successful airline. It’s great to have them on board,” he said.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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