Nigeria’s leading airline, Air Peace, has reported widespread operational disruption—flight delays and cancellations—after its lessor, SmartLynx Airlines, abruptly pulled out four wet-leased aircraft from its fleet. According to Air Peace’s Chief Commercial Officer, this move breached their contract and caught the airline off guard.
What Went Down
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Air Peace had leased the aircraft from SmartLynx to plug service gaps while 13 of its own planes were under maintenance abroad.
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The unexpected withdrawal happened without any prior notice, prompting Air Peace to describe the move as a “serious breach of contract” and potentially fraudulent.
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Air Peace claims it paid more than US$5 million upfront, including over US$1 million in security deposits, to SmartLynx for these aircraft.
The Fallout
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The disruption has reportedly cost Air Peace over US$15 million, undermining its ability to maintain its full flight schedule.
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Three of the aircraft have since been returned by Air Peace to their rightful owners, but one remains under SmartLynx’s control.
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Air Peace is now calling for a refund of its funds and has initiated actions to hold SmartLynx accountable.
A Wider Pattern?
Air Peace’s CCO pointed out that other airlines who leased from SmartLynx around the world faced similar issues, suggesting a broader problem. He also referenced a previous case where another lessor disappeared with millions from Air Peace, highlighting the risks Nigerian carriers face in international leasing deals.
Road to Recovery
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Despite the challenges, Air Peace says some of its aircraft are returning from maintenance, with two already back in Nigeria.
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The airline hopes to restore full operations in the coming week as more planes arrive.
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Air Peace apologized to affected passengers and assured the public that it’s working to prevent similar recurrence.
Why This Matters
This incident underlines a serious issue in the aviation leasing market, especially for African carriers: reliance on wet leases can expose airlines to enormous financial and reputational risks. For Air Peace, fixing this isn’t just about regaining capacity—it’s about regaining trust.
What to watch next: Will Air Peace recover the funds? How quickly can it normalize operations? And what safeguards will it put in place to avoid this happening again?