FG Announces A J Walters Leasing, Glovesly Pro-Project Limited Preferred Bidders To Establish Aviation Leasing Company

FG Announces A J Walters Leasing, Glovesly Pro-Project Limited Preferred Bidders To Establish Aviation Leasing Company
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FG Announces A J Walters Leasing, Glovesly Pro-Project Limited Preferred Bidders To Establish Aviation Leasing Company

Mr. Yunusa Abdulsalami, a staff of the Ministry of Aviation and also a member of the Proposals Evaluation Committee. During the Bid Evaluation Process for the Establishment of an Aviation Leasing Company (ALC) and a Maintenance, Repair and Overhaul (MRO) Centre in Abuja.

The Federal Government through the Aviation Ministry has announced the Consortium of A J Walters Leasing Limited and Glovesly Pro-Project Limited as the preferred bidder to establish Aviation Leasing Company in the country.

This is just as it also announced Consortium of A J Walters Aviation Limited, EgyptAir Maintenance & Engineering (EGME), and Gloves Pro-Project Limited the preferred bidders to establish the Maintenance, Repair, and Overhaul (MRO) Centre.

The MRO facility which will be sited at the Nnamdi Azikiwe International Airport(MMIA), Abuja, will also run through Public-Private Partnership (PPP) using the Build, Operate and Transfer(BOT) model and will have the capacity to service both narrow body (Jet and Turboprop) and wide-body aircraft.

The emergence of the preferred bidders followed the evaluation of the proposals submitted by bidders in response to the Request for Proposals for the Aviation Leasing Company (ALC) and the Maintenance, Repair, and Overhaul (MRO) Centre.

A J Walters Leasing (AJW Leasing) is the leasing subsidiary of A J Walter Group and the company optimizes airline fleet strategies by leasing aircraft engines and spare parts.

This flexible approach is particularly beneficial for small to medium-sized airlines seeking to maintain competitive advantage, manage cash, and strictly control operational costs for maximum profitability.
AJ Walters Leasing manages a substantial portfolio of leases and has a customer base of 22 airlines in more than 20 countries.

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Gloves Pro-Project Limited on its part is an indigenous and integrated company incorporated under the laws of the Federal Republic of Nigeria.

The company has the capacity and the capability to contribute to the challenging and growing requirements in the aviation industry, communication, power sector, building construction, civil engineering, road construction, and general procurement.

The ALC will be structured as a Joint Venture (JV) between the Federal government and the private investor.

The business model would be, in the short term, to lease aircraft from international lessors and subsequently sub-lease to African airlines while the long-term plan is to acquire, own and lease aircraft directly to African airlines.

AJ Walter Aviation Ltd provides supply, exchange, repair, and lease of commercial aircraft spare parts. Founded in 1961, the company offers total repair process management, logistics, transport, engineering, and aircraft project management services to clients worldwide.

EgyptAir Maintenance & Engineering (EGME) is a Leading MRO in the Middle East and Africa offering Maintenance, Repair, and Overhaul (MRO) services to commercial aircraft, engines, and components, with a customer base of over 81 airlines.

Gloves Pro-Project Limited is an indigenous and integrated company incorporated under the laws of the Federal Republic of Nigeria.

The company has the capacity and the capability to contribute to the challenging and growing requirements in the aviation industry, communication, power sector, building construction, civil engineering, road construction, and general procurement.

The MRO facility which will be sited at the Nnamdi Azikiwe International Airport, Abuja, will also run through Public-Private Partnership (PPP) using the Build, Operate and Transfer(BOT) model and will have the capacity to service both narrow body (Jet and Turboprop) and wide-body aircraft.

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In compliance with the Infrastructure Concession Regulatory Commission (ICRC) guidelines, a delegation from the Federal Ministry of Aviation, ICRC, and the Transaction Advisers will conduct a physical due diligence exercise on the preferred bidders at their operational premises.

This will precede negotiations between the Government and the bidders, after which the Full Business Case for each project will be submitted and approved by the ICRC and the Federal Executive Council.
Subsequently, agreements will be signed between the preferred bidders and the Federal Government of Nigeria, and implementation of the projects is expected to commence by the third quarter of 2021.

 


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