Nigeria’s Green Africa bags new investment for fleet growth

Green Africa Airways  has secured new investment from a leading assurance company in Nigeria as part of its plan to increase its fleet size and scale up operations in the region, the company confirmed.

The startup in a statement announced it had received an undisclosed sum from Leadway Assurance – part of the Leadway Group, one of Nigeria’s largest financial services providers – but gave no further details on its fleet growth plans. A Green Africa Airways spokeswoman said both parties had agreed not to disclose the sum being invested. She said the airline planned to become “one of the largest operators of the ATR72-600 in the region”.

It currently operates a fleet of three ATR72-600s leased from ACIA Aero, of which two are in service and one aircraft is in maintenance at present, according to the ch-aviation fleets advanced module.

The company initially had ambitious plans for fifty A220-300s, but put these plans on hold due to the economic realities created by the COVID-19 pandemic.

Green Africa claims to have captured a spot amongst the three top Nigerian carriers by virtue of having transported 150,000 passengers across eight domestic airports since it launched commercial operations on August 12, 2021. “In six months, we operated 3,098 flights […] with an average of 75.11% On-Time Performance (OTP),” the spokesperson said.