The minister explained that the company would operate as a Special Purpose Vehicle designed to provide airlines with easier leasing opportunities, rather than compete with existing operators.
He added that the initiative would remain private sector-driven with limited government guarantees.
Reacting to the development, the Chief Executive Officer of Ibom Air, George Uriesi, commended the minister for ongoing aviation reforms, describing the leasing initiative as a long overdue development capable of boosting airline operations in Nigeria.
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