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ollowing sustained backing from Access Bank, Green Africa has confirmed the acquisition of its second fully owned aircraft, reinforcing its recovery strategy. The Access Bank-supported expansion comes as the airline works to stabilise operations after recent fleet disruptions.
The aircraft is an ATR 72-600 with manufacturer’s serial number 1064 and Nigerian registration mark 5N-GAC. It is expected to enter service shortly after regulatory approvals from the Nigeria Civil Aviation Authority. Meanwhile, Access Bank provided a naira-denominated debt facility to partly fund the acquisition, mirroring the financing structure used for the airline’s first owned aircraft.
The second aircraft acquisition builds on Green Africa’s first ownership milestone achieved on April 1, 2025. On that date, the airline took delivery of an ATR 72-500, serial number 852, registered as 5N-GAB, with partial financing from Access Bank. Therefore, the twin transactions mark a deliberate shift from wet-lease dependency towards asset ownership.
Since launching operations in August 2021, Green Africa had relied entirely on wet-leased aircraft. However, fleet ownership now signals long-term stability and balance-sheet strength. The ATR turboprop type aligns with the airline’s low-cost, fuel-efficient model, while Access Bank’s involvement reduces exposure to foreign currency risk.
Founder and Chief Executive Officer Green Africa, Babawande Afolabi, said the arrival of 5N-GAC would strengthen a sustainable foundation for growth. He noted that the continued support of Access Bank enables the airline to expand access to safe, reliable and affordable air travel. In addition, the acquisition supports broader ambitions for regional connectivity across West Africa.
Afolabi said: “We are delighted to welcome our second owned aircraft (5N-GAC) to the fleet. The addition of 5N-GAC will help strengthen a sustainable foundation for Green Africa to grow and deliver on its promise to provide safe, reliable, and affordable air travel to a broader group of customers in the country and across the continent at scale.”
The timing of the second aircraft acquisition is notable following developments on March 31, 2025. At the time, lessor ACIA Aero Leasing repossessed three ATR 72-600 aircraft operated by Green Africa. Consequently, the airline announced a temporary suspension of flights, extending beyond the Eid-al-Fitr holidays.
Against this backdrop, Access Bank’s continued commitment through asset financing is widely viewed as stabilising. By supporting owned aircraft, Access Bank is helping Green Africa rebuild capacity while reducing reliance on external lessors. Therefore, the bank’s role extends beyond financing into strategic risk mitigation.
Access Bank’s confidence in aviation asset financing
Managing Director and Chief Executive Officer Access Bank, Roosevelt Ogbonna, said the partnership reflects confidence in enterprises transforming critical sectors. He noted that following the strong performance of Green Africa’s first owned aircraft, Access Bank was proud to extend support for the second acquisition. According to him, the transaction would enhance capacity and accelerate sustainable growth.
“At Access Bank, we are committed to empowering businesses that drive economic progress and create long-term value for society. Our partnership with Green Africa reflects our confidence in visionary enterprises that are transforming critical sectors of the economy. Following the strong performance of Green Africa’s first aircraft acquisition, we are proud to extend our support for this second aircraft, which will further enhance capacity and accelerate growth. We remain steadfast in our mission to provide innovative financial solutions that enable businesses to scale, thrive, and contribute meaningfully to Africa’s development.”
