Nigeria’s aviation sector has recorded a major breakthrough as TLG Capital, in partnership with Wema Bank, closed a $10 million financing facility for VivaJets, a subsidiary of Falcon Aerospace Limited.
The top transaction, announced this week, is regarded as the first internationally structured aviation financing deal for a Nigerian Air Operator. It will refinance an existing local-currency loan used for fleet acquisition while giving Falcon Aero fresh capital to drive regional expansion.
For years, Nigerian aviation operators have struggled under the weight of short-term, high-interest loans, a barrier to growth and sustainable operations. The new dollar-based, long-tenor facility provides a more stable financing structure that industry experts say could transform intra-African connectivity.
“Falcon Aero is linking cities that global capital often overlooks,” said Isha Doshi, Partner at TLG Capital. “With Wema Bank’s backing, this transaction creates a long-term financing solution that strengthens the aviation ecosystem while creating jobs for pilots, engineers, and other skilled professionals.”
Falcon Aero’s Chief Operating Officer, Tejumade Salami, described the deal as a lifeline. “Instead of losing a significant portion of revenue to interest repayments, we can now reinvest in improving service delivery and expanding our footprint across Africa,” she said.
Wema Bank’s Deputy Managing Director, Oluwole Ajimisinmi, hailed the collaboration as a blueprint for future financing. “This partnership combines TLG’s impact investment strength with Wema’s fiduciary capacity to empower African businesses to scale sustainably,” he noted.
The agreement had legal backing from Wigwe & Partners and Hannaford Turner, with Falcon Aero’s in-house transaction team led by Wuraola Adetiba, Kayode Adebiyi, and Seun Olajide.
Since its launch in 2022, Falcon Aero has logged more than 2,000 flight hours, catering to executives and high-net-worth clients across the continent. With two more aircraft expected this year, the company is positioning itself as a regional leader in aviation services.
For TLG Capital, which has invested over $230 million in more than 20 African countries since 2009, the deal reinforces its reputation as a pioneer in innovative financing. Partnering with Wema Bank—Nigeria’s oldest indigenous bank and creator of ALAT, Africa’s first fully digital bank, brings both global expertise and local strength to the table.
The agreement could mark the beginning of a new era in aviation financing, providing a sustainable model for channeling international capital into Africa’s air transport sector.
