Green Africa Adds Second Aircraft as Access Bank Provides Naira Financing for Fleet Expansion
By Darasimi K.
Green Africa Airways has acquired a second owned ATR 72-600 aircraft with asset financing from Access Bank to expand capacity on domestic routes.
Green Africa Airways has expanded its fleet with the acquisition of a second owned aircraft, supported by an asset-financing partnership with Access Bank Plc, in a move aimed at increasing capacity across its domestic network.
The carrier confirmed that the incoming aircraft is an ATR 72-600 turboprop, bearing manufacturer’s serial number 1064 and registration 5N-GAC. The airline said the plane will boost seat availability on existing routes once it completes regulatory clearances.
According to the airline, the aircraft is expected to enter service shortly after receiving the customary approvals from aviation authorities.
Green Africa noted that the acquisition structure mirrors its first aircraft purchase, with Access Bank providing a naira-denominated debt facility to partly finance the transaction. The arrangement allows the airline to expand while managing foreign currency exposure in a capital-intensive sector.
Founder and Chief Executive Officer, Babawande Afolabi, described the addition as a step toward building a stronger operational base for the airline.
“We are delighted to welcome our second owned aircraft (5N-GAC) to the fleet,” Afolabi said.
“The addition will help strengthen a sustainable foundation for Green Africa to grow and deliver on its promise to provide safe, reliable, and affordable air travel to more customers across Nigeria and the continent.”
From the financing side, Roosevelt Ogbonna, Managing Director and CEO of Access Bank, said the bank remains focused on supporting businesses that enable economic growth.
“Our partnership with Green Africa reflects our confidence in enterprises transforming critical sectors of the economy,” Ogbonna said.
“Following the strong performance of the first aircraft acquisition, we are proud to support this second expansion, which will enhance capacity and accelerate growth.”
Industry observers note that fleet ownership can improve airlines’ long-term cost efficiency and operational flexibility compared with short-term leases, particularly for carriers focused on regional and domestic connectivity.
The new aircraft is expected to strengthen Green Africa’s ability to serve key Nigerian routes, as demand for domestic air travel continues to recover and competition among local carriers intensifies.
— GLEBM News
