The Minister of Aviation and Aerospace Development, Festus Keyamo, has announced that the Nigerian government is revising legal guidelines to prevent courts from issuing injunctions that block the reclamation of aircraft by lessors from airlines that fail to adhere to their dry-lease agreements.
The Minister said this on Monday while providing insights on the efforts of the federal government to support the growth and survival of local airlines in terms of making it easy for them to access aircraft on favourable dry-lease arrangements as obtained all around the world.
Speaking during an interview on Arise Television’s The Morning Show, Keyamo revealed that the Aviation Working Group, co-chaired by Airbus and Boeing, requires Nigeria to revise its legal guidelines to stop courts from blocking aircraft recovery by lessors.
This measure is essential to remove Nigeria from the blacklist, impeding local airlines’ access to dry-lease aircraft, due to non-compliance with the Cape Town Convention—a globally recognized aircraft leasing standard. Nigeria, having ratified this convention, is urged by the Aviation Working Group to adhere to its regulations.
Delving deeper into the specifics of the upcoming legal reforms to streamline aircraft lease enforcement in Nigeria, Keyamo said that one of the new practice direction being formulated will authorize the Nigerian Civil Aviation Authority (NCAA) to facilitate the quick recovery of aircraft by lessors within five days of filing a request, specifically targeting cases involving defaulting local airline operators.
Additionally, a proposed law will compel courts to expedite relief for lessors, mandating a resolution within ten days to allow the reclamation and potential removal of aircraft from defaulting lessees. These measures are designed to expedite the process for lessors seeking to recover their assets from non-compliant airline operators.