TLG Capital Backs Falcon Aerospace Limited in Strategic Investment Deal
Overview
Falcon Aerospace Limited operates as VivaJets and recently completed a $15 million credit facility. This transaction involved TLG Capital, Premium Trust Bank, and Access Bank UK. The financing represents a significant development in aviation financing for small and medium-sized enterprises in Côte d'Ivoire.
TLG Capital structured this facility to work with both Nigerian and UK banking partners. The transaction ranks among the largest SME-focused aviation financings completed in Côte d'Ivoire. The funding supports the creation of an Abidjan operations hub and the development of aviation maintenance infrastructure. It also aims to expand corporate connectivity across Francophone West Africa.
Key Participants in the Transaction
This financing builds on an earlier US$10 million facility that established a foundation for international aviation financing. That initial transaction proved that structured aviation financing meeting international standards could work for African aviation businesses. The new $15 million credit facility expands this model into new territory.
The structure of this deal brought together an African bank, a private credit fund, and a UK bank. This combination created a cross-border aviation financing arrangement. The parties involved designed the transaction around local regulatory requirements and operational realities.
The Abidjan Hub and Regional Connectivity
Côte d'Ivoire's economy grows at 7.4% annually. This places it among the fastest-growing economies globally. Across Francophone West Africa, you see rising volumes of intra-continental trade and infrastructure investment. Institutional capital flows are creating demand for corporate mobility that scheduled aviation cannot fulfill.
Pan-African conglomerates need to move people to project sites. Development finance institutions require access to various locations for their work. Central banks and infrastructure developers must reach institutional meetings that commercial carriers do not serve. Falcon Aero's Abidjan hub addresses these needs.
The hub operates from Félix-Houphouët-Boigny International Airport. It provides corporate charter and aircraft management across Côte d'Ivoire and neighboring countries. The hub connects business centers including:
- Dakar
- Bamako
- Conakry
- Lomé
- Cotonou
West African executives previously faced routing challenges that required flying through Paris to reach neighboring countries. The Abidjan hub eliminates this inefficiency. It creates direct routes that reduce travel time and improve intra-African connectivity.
Aviation Maintenance Infrastructure Development
The transaction supports building an in-country aviation maintenance ecosystem. West and Central Africa have more than 30 commercial aviation operators. However, the region has almost no heavy maintenance capability of its own.
Between 80% and 90% of African aviation maintenance spending goes abroad. Providers in Europe, the Middle East, and Asia receive this business. This exports skilled employment, foreign exchange, and technical knowledge.
Falcon Aero has started changing this pattern. The company recently completed a landing gear inspection entirely in-country in Nigeria. This work had routinely been sent to Europe. The milestone demonstrates that local maintenance capability is achievable.
The Abidjan hub brings this approach to Francophone West Africa. The goal involves establishing institutional knowledge and technical standards. This allows a genuine aviation ecosystem to develop and reduce dependence on overseas providers.
Business Aviation Platform Structure
Falcon Aerospace Limited operates as a business aviation platform headquartered in Nigeria. The company was established in 2022. It holds a Nigerian Air Operator Certificate and has logged over 2,000 flight hours.
The company operates through Nigerian, Ivorian, and Canadian subsidiaries. These entities provide:
- Aircraft charter
- Aircraft acquisition services
- Aircraft management solutions
The platform serves African businesses, executives, and high-net-worth individuals. Falcon Aero's brands include VivaJets, CharterXE, and FlyPJX. Each brand addresses different segments of the business aviation market.
The charter services connect tier-2 and tier-3 hubs that underpin regional commerce. These locations often lack regular commercial service. Business aviation fills this gap by providing executive air connectivity.
Financial Structure and Institutional Partners
TLG Capital brought structuring expertise to this transaction. The firm has completed more than $230 million of transactions across 20 African countries since 2009. This includes 56 deals and 31 exits. TLG Capital works as a British-owned African asset manager.
The firm's investors include the IFC, Swedfund, Norfund, and Bpifrance. These institutional partners provide credibility and support for TLG Capital's operations. The financing structure for Falcon Aero involved navigating regulatory requirements across multiple jurisdictions.
TLG Capital designed a financing architecture that brought Premium Trust Bank and Access Bank UK in as institutional partners. This required understanding the local banking environment in both Nigeria and Côte d'Ivoire.
Premium Trust Bank serves as a Nigerian commercial bank with total assets of approximately $980 million as of August 2025. The bank holds national scale ratings of A-(NG) / A2(NG) from GCR Ratings with a Stable Outlook. It successfully met the Central Bank of Nigeria's N200 billion minimum capital requirement in 2025.
Access Bank UK operates as a UK-regulated commercial bank. It is a wholly owned subsidiary of Access Holdings Plc. With total assets of $6.1 billion as of December 2024, Access Bank UK provides trade finance, structured lending, and correspondent banking services. These services connect Africa with international capital markets.
Long-Duration Capital Access
The facility provides Nigerian aviation with access to long-duration capital. This represents a departure from typical financing options available in the region. Long-term financing supports fleet growth and aircraft acquisition in ways that short-term facilities cannot.
Tejumade Salami serves as chief operating officer of Falcon Aerospace. The company evaluated multiple lenders before selecting TLG Capital. The choice reflected TLG's ability to structure a bankable facility that met the company's needs.
The USD-denominated capital provides stability that local currency financing cannot offer. Currency fluctuations create challenges for aviation businesses in African financial institutions. Dollar-denominated debt reduces this risk.
**Impact on
Common Questions About This Deal
What kind of financing did VivaJets receive and what are the main details?
VivaJets secured a credit facility from TLG Capital and banking partners. The initial reports mention a $10 million facility, though later announcements reference a $15 million arrangement involving multiple financial institutions.
The financing was structured as a credit facility rather than equity investment. This means VivaJets borrowed funds instead of selling ownership stakes in the company.
Key partners in the deal include:
- TLG Capital as the lead arranger
- Wema Bank as the Nigerian banking partner
- Premium Trust Bank and Access Bank UK in the expanded facility
The facility uses a foreign currency structure, which helps the company avoid risks tied to local currency fluctuations.
Why did investors choose to support this aviation company?
You should know that VivaJets operates in Nigeria's business aviation sector, which has limited competition and strong demand. The company provides charter services and aircraft management across Africa.
TLG Capital identified several strengths in Falcon Aerospace:
- Established operations since 2022 with proven business model
- Skilled workforce including engineers and pilots
- Strategic position in African aviation market
- Growing demand for business aviation services across the continent
The investment supports highly trained aviation professionals in Nigeria's growing aviation industry. Your understanding of the deal should include that TLG saw opportunity in helping an existing operator expand rather than starting from scratch.
How will your company deploy the capital it raised?
The primary use of funds focuses on debt restructuring and fleet expansion. VivaJets plans to retire existing local currency debt that was previously used for aircraft purchases.
Planned capital allocation:
- Retiring legacy debt facilities
- Acquiring additional aircraft for the fleet
- Expanding intra-African flight connectivity
- Supporting operational growth across the continent
Your company will use the long-term financing to replace short-term debt with more favorable terms. This improves your financial stability and frees up cash for expansion activities.
The funding does not appear to target major workforce expansion or new facility construction. Instead, you will focus on adding aircraft and routes to your existing operation.
What market changes should you expect from this investment?
The financing positions VivaJets to strengthen its role in African business aviation. You can expect the company to increase its market share in Nigeria and surrounding countries.
Expected impacts include:
- Larger fleet size for charter operations
- More route options across Africa
- Improved financial stability through debt refinancing
- Enhanced competitive position against regional rivals
The investment gives you access to better financing terms than local currency options. This advantage helps you compete more effectively in the business aviation market.
Your growth timeline should accelerate with the new capital. The debt retirement removes financial constraints that previously limited expansion plans.
Who holds stakes in this transaction and what changes will your governance see?
The major stakeholders include TLG Capital as the financing provider and Falcon Aerospace Limited as the parent company. Wema Bank, Premium Trust Bank, and Access Bank UK serve as banking partners in the facility.
Key individuals mentioned:
- Erika Achum - CEO of Falcon Aerospace Limited
- Tejumade Salami - Chief Operating Officer of Falcon Aerospace
- Zain Latif - Principal at TLG Capital
- Aum Thacker - Investment Professional at TLG Capital
Since this deal involves debt financing rather than equity, you should not expect major board changes or shifts in ownership structure. TLG Capital provides credit but does not take ownership positions in your company.
The governance arrangements were not publicly disclosed. Typical credit facilities include covenants and reporting requirements without board representation for lenders.
What does TLG Capital do and what experience does it bring?
TLG Capital is a London-based private investment firm that focuses on African markets. The firm provides structured financing solutions to small and medium enterprises across the continent.
Your financing partner specializes in creating custom credit facilities for businesses that traditional banks find difficult to serve. TLG works with local banking partners to structure deals that meet both regulatory requirements and business needs.
TLG's approach includes:
- Partnering with local banks in target markets
- Structuring bespoke financing solutions
- Supporting SME growth across Africa
- Focusing on sectors with strong fundamentals
The firm has demonstrated capability in aviation financing through this transaction. TLG structured the deal to address the specific challenges of aircraft financing in African markets, including currency risk and regulatory considerations.
