Air Peace has released the Airbus A320 aircraft to the Latvia-linked aircraft leasing company SmartLynx Airlines, six months after impounding the aircraft at the Lagos airport.
The Guardian learnt that the airline released the aircraft to the lessor after both parties settled the case out of court, following the accusation of breach of contract leveled against the leasing company by the airline last November.

The airline also accused the leasing company of inflicting severe operational and financial losses of over $15 million in damages, following the sudden disappearance of two of the company’s aircraft in the fleet of Air Peace while it ensured that the third airplane was grounded in Lagos.
Though, it was not clear the exact day the aircraft was released to the lessor, but information gathered by The Guardian indicated that it was released this week, while the aircraft as of Tuesday was already in Spain.

The Chief Commercial Officer, Air Peace, Nowel Ngala, had lamented that the withdrawal was a violation of industry standards and agreement between both parties, saying the aircraft had been scheduled for operations and their removal resulted in delays and cancellations.
Ngala stated that Air Peace and SmartLynx had been in business for four years before this development, adding that despite the setbacks.

Ngala also informed that Air Peace had paid over $5 million, including over $1 million as security deposits for the three aircraft.
However, a source close to Air Peace, confided in The Guardian yesterday that the airline released the aircraft after a “out of court settlement” on the matter.

The source who did not wanted to be quoted, said that Air Peace would continue to abide by any contracts it reached with its partners.
Besides, when The Guardian contacted the Spokesman of Air Peace, Efe Osifo-Whiskey, he declined to comment on the issue immediately.

Osifo-Whiskey promised to get back to The Guardian, but as of the time of filing this report, he was yet to do so.
Also, Director, Public Affairs and Consumer Protection, the Nigeria Civil Aviation Authority (NCAA), Michael Achimugu, said he was not aware of the matter as of the time The Guardian contacted him.

He, however, promised to provide updated information on the matter, which he was yet to do as of the time of filing this report.