Springfountain To Acquire 200 New Aircraft In The Next 20 Years

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Yemisi Izuora

The executive director Springfountain Infrastructure Limited, Mrs Tokunbo Fagbemi has disclosed that the company is planning to invest over $20 Billion dollars in Aircraft Leasing, MRO, Spares Logistics and Supply and Aggregated Services Solutions.

Speaking in Lagos on the aerospace education and infrastructure conference by Boeing Company, Aviation and Aerospace Development Foundation,AADF and Springfountain and the signing of the Memorandum of Understanding, MoU between the Boeing company and Springfountain Infrastructure, Mrs Fagbemi noted that this will require the local skills in diverse fields ranging from piloting, aviation engineering, aviation economics, aviation law.

She disclosed that the company intend to acquire and lease at least 200 new aircraft within the next 20 years.

She stated that this may look impossible to some at this time given past realities.
She observed that this is achievable with the right strategies, culture, attitudes and support.

Mrs Fagbemi noted that there is a clear need to increase air fleet capacity especially with new single aisle aircraft.

She explained that Aviation in Africa in particular, Nigeria has had a rocky history but has a promising future, stressing that it is time to move and not procrastinate.

According to her: “Africa is poised to improve its share of commercial aviation aircraft from 5percent. This is despite the fact that Africa is the world’s largest continent in population and in size.

The focus being put on African Aviation by the African Union Agenda 2063 and Yamoussoukro Declaration all point to African air connectivity increasing within the next decade. The fact that despite the reduced revenue from commodities and extractive industry (which is the mainstay of almost all Africa countries), air transport continues to grow, this no doubt supports the potential for growth in African aviation”.

She said the company is working with Boeing on the African Aircraft Leasing Company (AALC), Aircraft OEM Maintenance Repairs and Overhaul (AOMRO), African Aircraft Spares Parts Centre (AASC), Aggregated Service Solutions Provider (AASP).
“Our key driver is to provide platforms and systems that will reduce the Cost per Air-seat Kilometre (CASK) of our clients.
In line with our strategic motive of providing platforms and systems to drive CASK down for our clients we are in full support and part of the initiative of AADF, Boeing, and Springfountain.
We are delighted to be part of this large family of diverse aviation professionals dimensioning how best to make these dreams and plans a reality goal by looking at Aviation Education and Aviation Education Infrastructure. This will also go a long way in establishing Nigeria’s leadership in African and global aviation and making Africa great in global aviation,” she said.

Speaking also, sales director, west Africa Commercial Airplanes, The Boeing Company, Larry Tolliver noted that Boeing has realised that working together with their customers, leasing companies and others makes the finish product to meet the customers need.

Tolliver noted that the working together approach is good for the Boeing Company and the aviation industry.
He applauded the management Sringfountain and Mr Kayode Ariwodola, AADF director and the conference coordinator who is his colleague in Boeing for inviting him to the programme.

Tolliver said he look forward to working with AADF and Springfountain on the initiative aimed and promoting aviation in Nigeria.

In his comments, the chairman of Air Peace, Allen Onyema commended the management Sringfountain for the initiative in aircraft leasing, Maintenance, Repair and Overhaul, MRO.
He noted that the condition of leasing of aircraft in Nigeria is too difficult as the lessor companies give out outrageous conditions.

Even the insurance in the industry is very outrageous and one of the highest in the world.
He promised that Air Peace will be the first customer of Springfountain in the area of aircraft leasing.

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