Falcon Aero, a Nigerian business aviation company founded in 2022, has secured a US$10 million financing facility for its subsidiary VivaJets from TLG Capital and Wema Bank.
According to a statement published Wednesday on The Condia website, the funds will be used to retire existing debt, expand VivaJets’ fleet, and strengthen intra-African connectivity.
The facility, structured as a long-tenor USD-denominated instrument, was arranged through a partnership between TLG Capital— a UK-based African-focused asset manager with more than US$230 million deployed across 20 countries since 2009, and Wema Bank.
The transaction is reportedly the first internationally structured aviation financing secured by a Nigerian air operator.
Falcon Aero’s Chief Operating Officer, Tejumade Salami, said the facility would enable VivaJets to concentrate on operations and enhancing client experience, while easing the burden of interest and debt servicing on revenue.
TLG has closed a US$10 million facility for VivaJets, a subsidiary of Nigerian aviation services platform Falcon Aero, with financing structured alongside Wema Bank.
“Both TLG and VivaJets believe this to be the first internationally structured aviation financing for a Nigerian Air Operator, and funding will be applied to boost intra-African connectivity,” the statement read in part.
Salami was further quoted as saying, “In our industry, the ability to access long-tenor, USD-denominated capital is critical. With this facility, we have retired legacy obligations and can now focus fully on curating a seamless experience for our clients across the region. Our facility with TLG substantially reduces the amount of our revenue and cash flow that is spent on interest and debt service.”
Falcon Aero’s COO stressed that securing long-tenor, USD-denominated capital is essential for sustainable growth.
Isha Doshi, Partner at TLG Capital, said the financing deal underscores how Africa’s economic growth depends on connectivity. He pointed out VivaJets’ vital role in linking cities usually overlooked by global capital — especially tier-2 and tier-3 hubs where trade and opportunities are growing fast.
Doshi also said the deal will help build up a skilled aviation workforce in Nigeria — including pilots, engineers and other professionals.
The Deputy Managing Director at Wema Bank, Oluwole Ajimisinmi, noted that the partnership draws on TLG’s investment expertise and Wema’s fiduciary strength to support Falcon Aero. He described this as a key step in closing the financing gap for African businesses, while preserving strong discipline in managing risk.
