Allen Onyema, chairman and CEO of Air Peace, says the airline has chosen to delay going public in order to build a stronger foundation and preserve its long-term vision.
Speaking on a panel at the 2025 League of Airport and Aviation Correspondents (LAAC) conference, Onyema said the decision was not driven by lack of investor interest, but by a desire to maintain control and protect the interests of staff and stakeholders.
“We want to build a legacy that will stand the test of time,” he said. “If it is about money, I would have done that [list listing] a long time ago. I would have gone to the public, maybe made money as some people advised me, and walked away. It is not about that. I am thinking about over 4,000 people who are working with Air Peace today.”
Going public allows companies to raise capital by selling shares on the stock market, but it also subjects them to greater regulatory scrutiny and shareholder pressure.
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Onyema said one key concern is the potential interference from minority shareholders who may not align with the airline’s philanthropic and people-focused mission.
“I am thinking of the people who would take us to court every day after investing just 0.5 percent,” he said. “They may not allow us to continue some of the philanthropic things we do.”
Still, Onyema confirmed that listing remains part of the airline’s long-term plans — once it has laid what he called a “solid foundation.”
