Falcon Aerospace limited, has closed a US$10 million facility with TLG Capital (TLG) for VivaJets, a subsidiary of Nigerian aviation services platform to expand operations.
The financing structured in partnership with Wema Bank, will retire an existing local-currency facility previously deployed for aircraft acquisition and fleet expansion.
According to both parties, the transaction marks the first internationally structured aviation financing for a Nigerian air operator, which will also boost intra-African connectivity.
Speaking on the deal, Chief Operating Officer of Falcon Aero, Tejumade Salami, described the partnership as a breakthrough for the company and the wider aviation sector.
“We spoke to many lenders, but TLG solved it. Their structured-solutions mindset turned a complex funding puzzle into a single, bankable facility. With this facility, we have retired legacy obligations and can now focus on delivering a seamless experience for our clients across the region,” she stated.
She added that the facility would further ensure that the company significantly reduces the revenue and cash flow expended on interest and debt service.
Partner, TLG Capital, Isha Doshi, said the investment underscores TLG’s commitment to improving Africa’s connectivity through sustainable private capital.
“Africa’s growth story depends on connectivity. Falcon Aero is linking cities that global capital often overlooks, including tier-2 and tier-3 hubs where trade and opportunity are growing fastest. With Wema Bank and Falcon Aero, we are proud to deliver a long-term financing solution that supports engineers, pilots, and workers across Nigeria’s aviation sector.”
Speaking further on the deal, Deputy Managing Director of Wema Bank, Oluwole Ajimisinmi said, “This collaboration leverages TLG’s impact investment prowess and Wema Bank’s strong fiduciary capacity to provide needed financial support for the aviation company, ultimately bridging the gap in financing for African businesses.
“This intelligent form of structuring is a credible example of how African financial institutions can crowd in private credit, while maintaining strong risk discipline towards the goal of empowering African businesses with the funding they need to thrive.”