The Chairman and Chief Executive Officer of Air Peace, Dr. Allen Onyema, has commended Fidelity Bank Plc for successfully repaying its $400 million Eurobond at maturity, describing the achievement as evidence of the bank’s financial strength and sound management.

Onyema particularly applauded the bank for financing the repayment entirely from its internal liquidity after meeting its obligations throughout the five-year tenure of the Eurobond.

In a congratulatory message issued on behalf of the Board, Management and Staff of Air Peace Limited, the airline chief attributed the achievement to the strategic leadership of Fidelity Bank’s Managing Director and Chief Executive Officer, Dr. Nneka Onyeali-Ikpe.

He noted that the bank’s successful repayment of the Eurobond, alongside its completion of the recapitalisation exercise ahead of the Central Bank of Nigeria’s stipulated deadline, demonstrated its commitment to sound corporate governance and sustainable financial management.

Onyema also highlighted the importance of financially strong banking institutions to the growth of capital-intensive sectors such as aviation, where access to financing is critical for fleet expansion, operational sustainability and industry development.

He stressed that resilient financial institutions and strong partnerships with indigenous businesses were essential to strengthening Nigeria’s economic competitiveness and supporting national development.

The Air Peace chairman congratulated Onyeali-Ikpe, the bank’s Board, Management and staff on the achievement, expressing confidence in the institution’s capacity to record greater milestones.

He also reaffirmed Air Peace’s goodwill towards Fidelity Bank, wishing the financial institution continued growth, stability and greater accomplishments in Nigeria’s banking industry.

United Nigeria Airlines (UNA) has raised ₦22 billion through its debut Commercial Paper (CP) issuance, becoming the first airline in Nigeria to access the debt instrument in the country’s financial market.

The airline disclosed that the successful issuance represents the first tranche of its ₦100 billion Commercial Paper programme, with the ₦22 billion raised exceeding its initial target of ₦20 billion for Series 1 and Series 2.

The offer attracted more than ₦5 billion in excess subscriptions, reflecting strong interest from institutional investors, including asset managers, insurance companies and high-net-worth individuals.

However, demonstrating what it described as financial discipline, the airline accepted only a 10 per cent increase above its initial target, bringing the total amount raised to ₦22 billion, while returning the remaining unallocated subscriptions to investors.

Managing Director of United Nigeria Airlines, Mr Osita Okonkwo, said the strong investor response demonstrated confidence in the airline’s business model, financial performance and growth strategy.

He said the proceeds would be deployed towards fleet expansion and improved operational efficiency as the carrier advances its expansion plans.

Okonkwo expressed appreciation to investors who participated in the issuance, adding that the airline looked forward to further engagement with the capital market as it executes subsequent tranches of its funding programme.

Also speaking, Managing Director of Meristem Capital Limited, the Lead Issuing House for the transaction, Mr Rasaki Salawu, described the issuance as a landmark development for Nigeria’s aviation and financial sectors.

Salawu said the decision by the airline to limit the oversubscription to a 10 per cent increase, despite receiving more than ₦5 billion in excess demand, demonstrated financial prudence and sound corporate governance.

He expressed confidence that the transaction would provide significant support for the airline’s expansion objectives.

The capital raise comes as United Nigeria Airlines pursues plans to expand its fleet and strengthen its domestic and regional operations. The carrier currently serves 14 domestic and regional destinations across Nigeriaand Ghana, while working to deepen its regional network.

The airline also holds designated flag-carrier approvals for six international routes, positioning it for further expansion into the international aviation market.

The ₦100 billion Commercial Paper programme provides a funding framework for the airline to access additional short-term financing from the capital market as it pursues its growth and operational objectives.

Air Peace has appointed Captains James Adaviruku Onipe and Ikechukwu Paul-Ugochukwu as Director of Flight Operations and Chief Pilot, respectively, as the airline strengthens its operational leadership structure.

The appointments, which take effect on November 1, 2026, will see the two experienced pilots assume key responsibilities in flight operations management, pilot training, safety and operational standards.

Onipe currently serves as the airline’s Embraer 145 Fleet Manager and Trainer/Check Airman. With almost 20 years of aviation experience across multiple aircraft fleets, his expertise covers flight safety, crew proficiency, operational efficiency and regulatory compliance.

Paul-Ugochukwu, who has 22 years of experience in the aviation industry, currently serves as a Boeing 777 Type Rating Instructor and Check Airman, with responsibilities that include pilot training, technical proficiency and maintaining operational standards.

The appointments follow the elevation of the outgoing Director of Flight Operations, Captain Augustin Kamano, and the former Chief Pilot, Captain Martin Okunpolor, to higher positions within the Air Peace Group.

Their elevation has created the opportunity for Onipe and Paul-Ugochukwu to take over the respective flight operations leadership positions as the airline continues to develop its management structure.

The changes form part of Air Peace’s efforts to strengthen its pool of experienced aviation professionals and sustain operational standards as its business expands.

The airline said the appointments reflect its commitment to recognising professional experience, promoting career advancement and building leadership capacity to support its operations.

Air Peace congratulated the two pilots on their new positions and expressed confidence in their ability to contribute to the airline’s operational objectives.