Nigerian business aviation services provider Falcon Aero has secured a landmark US$10 million financing facility for its subsidiary, VivaJets, from TLG Capital in partnership with Wema Bank. The transaction, announced on Wednesday via a press release on The Condia website, marks what stakeholders describe as the first internationally structured aviation financing for a Nigerian air operator.

Funding to Retire Debt and Expand Fleet

According to Falcon Aero, the new facility will be used to retire legacy debt, expand VivaJets’ growing fleet, and enhance intra-African connectivity. The deal is structured as a long-tenor, USD-denominated facility, enabling the company to reallocate more cash flow from debt servicing to operational improvements and client experience.

“This facility allows us to focus fully on curating a seamless experience for our clients across the region,” said Tejumade Salami, Chief Operating Officer of Falcon Aero. “We have retired legacy obligations and substantially reduced the portion of our revenue and cash flow spent on interest and debt service.”

Salami stressed that access to long-tenor, foreign-currency capital is essential for aviation operators in Nigeria and across Africa, given the capital-intensive nature of the industry.

A Milestone for Nigerian Aviation Finance

Founded in 2022, Falcon Aero provides a range of aviation solutions including aircraft charter, acquisitions, and fleet management services. VivaJets, its charter subsidiary, has logged over 2,000 flight hours and is currently expanding operations, with two new aircraft scheduled to join its fleet this year.

The financing agreement is seen as a breakthrough in aviation financing in Nigeria. By tapping international structuring expertise, the transaction sets a precedent for how local operators can access global capital to scale operations in Africa’s fast-evolving aviation market.

Strategic Partners: TLG Capital and Wema Bank

TLG Capital, a UK-based asset manager with a track record of over US$230 million in investments across 20 African countries since 2009, co-structured the facility alongside Nigeria’s Wema Bank.

Commenting on the deal, Isha Doshi, Partner at TLG Capital, said the transaction underlines the importance of air connectivity to Africa’s economic growth:

“This facility highlights VivaJets’ role in linking cities often overlooked by global capital, including tier-2 and tier-3 hubs where trade and opportunity are expanding rapidly. Beyond infrastructure, it also supports the development of skilled aviation professionals — pilots, engineers, and other technical staff — in Nigeria.”

From the banking perspective, Oluwole Ajimisinmi, Deputy Managing Director at Wema Bank, noted that the partnership combined TLG’s investment expertise with Wema’s fiduciary oversight, helping bridge Africa’s financing gap while maintaining risk discipline.

Legal and Advisory Teams

The transaction was supported by a strong legal and advisory framework. Wigwe & Partners and Hannaford Turner acted as legal advisers. On the financing side, TLG Capital’s deal team included Ayoola Oladipupo and Aum Thacker, while Falcon Aero was represented by Wura Adetiba, Kayode Adebiyi, and Seun Olajide.

Driving Regional Aviation Growth

For Falcon Aero and VivaJets, the $10 million facility represents both financial relief and an opportunity to scale. With the African aviation market still underpenetrated, the company aims to position itself as a hub for business executives, high-net-worth individuals, and enterprises seeking reliable air travel within Africa.

By expanding connectivity to secondary and tertiary cities across the continent, VivaJets is not only strengthening its competitive position but also contributing to broader regional integration.