Air Peace Airlines Limited, has said that despite losing over $38 million in the transaction with its lessor, Smartlynx Airlines, which recently withdrew four aircraft leased to it on allege breach of contract, it never had any intention of detaining any of the lessor’s aircraft.
According to the contract Air Peace had with Smartlynx Airlines, the Nigerian airline was expected to operate the four aircraft till 2026, but the lessor suddenly requested to withdraw them against that agreement
Two weeks ago, Air Peace allowed Smartlynx Airlines to take three of the aircraft and the fourth aircraft was later released to the lessor.
In a statement signed by the airline’s management, Air Peace said it released the four aircraft to the lessor because it did not intent to hold back any of them despite the breach of the contract by Smartlynx Airlines.
“Our current issues with the trio of Smartlynx Airlines Malta Limited, SIA Smartlynx Airlines, and Smartlynx Estonia OU (hereinafter referred to as “Smartlynx”) stem from the operation of damp lease agreements involving four aircraft, during which Smartlynx deliberately defrauded Air Peace of several millions of dollars. This is in addition to the severe disruptions to Air Peace’s scheduled operations during peak season, resulting in monumental reputational and operational damage to the airline.
“During the operation of the lease, Smartlynx fraudulently obtained several advance payments under the pretext that it would operate the agreed block hours. Smartlynx fully knew—months before receiving these payments—that it had no intention of operating the prepaid block hours, yet it continued to demand and receive payments from Air Peace under false pretences. As of the date of this press statement, Air Peace’s total losses stand at $38,042 million,” it said
