Business Hilights
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Boeing deal: Air Peace’s discipline, sound business model attracted F’Bank—Okonkwo

The Managing Director of Fidelity Bank, Mr. Nnamdi Okonkwo, has opened up on why his bank partnered Air Peace group to fund latest ordering of 10 new Boeing B737MAX aircraft from American aircraft manufacturer, Boeing.
In an interview with Business Hilights weekend, he revealed that “Fidelity Bank decided to support Air Peace because of its financial discipline and sound business model”.
Our correspondent gathered that the airline had approached other banks (names with held) for similar partnership before the private sector business development concerned financial institution, Fidelity Bank sealed the air crafts’ purchase deal which was superintended by the United States Consul General in Lagos, Mr John Bray.
In his goodwill message, Bray commended Air Peace and its chairman, Chief Owen Onyema, for the feat and assured Air Peace of the support of US government going further.
Business Hilights recalls that Fidelity Bank has been the leading private sector investment driver as a matter of corporate policy and in keeping with the establishment principle of the bank by its founding fathers.
In the last one year, Fidelity Bank has boosted activities of Nigerian startups especially operators in the Micro, Small and Medium Enterprises (MSMEs).
The bank has invested over N250bn in uplifting business activities of small and large business owners across the federation.
Further investigations on the performance of Fidelity Bank in the segment of MSMEs showed that majority of leading manufacturing and artisanal activities in Aba, the core production and commercial city in Nigeria and South East in particular, are riding on the financial support arrangements’ of Fidelity Bank.
It would be recalled that Air Peace airline signed an agreement with Boeing for the acquisition of 10 new Boeing B737MAX aircraft from the United States, thereby making it the first airline to add Boeing B737MAX aircraft type to its growing fleet in the annals of West Africa.
Business Hilights further discovered that Air Peace had been operating Boeing 737s and Embraer 145s on its domestic and regional routes and would in the next few months launch its international flight operations.
In his remarks during the brief signing meeting at the residence US Consul General in Lagos, Onyema said the airline was now more positioned to lift Nigeria’s economy, create jobs and transform air travel.
According to him, “We are excited to add the 737 MAX to our fleet as we expand our network to offer more destinations and serve more passengers.
“The fuel efficiency and superior operating economics of the 737 MAX will ensure that the aircraft will play a major role in growing our business in the years to come.”
Onyema thanked parties to the deal especially Fidelity Bank for believing in Air Peace business model, Boeing, the governments of Nigeria and the United States for seeing to the fruition of the company’s latest expansion drive.
In his remarks, the Sales Director of Boeing Commercial Airplanes (West and Central Africa), Mr. Larry Tolliver congratulated the emerging champion in Nigeria’s domestic airline business, Air Peace for the new success story.