African airlines are leasing far fewer aircraft than global peers, with only about 38 per cent of their fleets obtained through leasing, according to Afreximbank. This compares poorly with airlines in other regions, where up to 70 per cent of aircraft are typically leased. Ayo Mobarak, Head of Project Finance Desk at Afreximbank, attributed the gap to persistent financing challenges in Africa's aviation sector. He spoke with journalists on Friday, noting that limited access to capital and high borrowing costs restrict fleet expansion and modernisation. The bank is exploring ways to support African carriers through structured leasing solutions and improved financing frameworks. Without better access to funding, many airlines may struggle to compete internationally or meet growing passenger demand.
Ayo Mobarak's disclosure about the 38 per cent leasing rate exposes how African airlines are operating at a structural disadvantage. This isn't just a financing gap—it's a mobility gap that limits connectivity and economic integration across the continent. Until African carriers can access competitive leasing terms, they will keep falling behind in fleet quality, route expansion, and service reliability. For Nigerian passengers and businesses, that means fewer direct flights, higher fares, and continued reliance on foreign airlines for regional and global travel.
