Skyway Aviation Handling Company (SAHCO) has seen its after-tax profit more than double in the nine months of 2024 driven by a 177 percent surge in other operating income.
The firm’s other operating income grew to N204.6 million in the nine months of 2024 from N73.8 million in the same period of 2023.
Further analysis reveals that after-tax profit surged 118 percent to N4.64 billion from N2.13 billion during the period revealed.
Revenue grew to N20.12 billion from N11.7 billion while the firm’s direct cost grew to N8.11 billion from N5.96 billion.
Skyway Aviation Handling Company PLC’s earnings per share surged to N343 per share from N19 per share during the reviewed period.
In November 2024, SAHCO announced its new partnership with NeosAir, the Italian airline, to become its ground handler in Nigeria.
NeosAir is a private Italian airline whose headquarters is in Somma Lombardo, Lombardy, Italy, and is a subsidiary of Alpitour S.p.A.
The airline which operated its maiden flight into Nigeria on October 30, 2024, from Milan Malpensa Airport in Italy to Murtala Muhammed International Airport in Lagos has broken almost two decades of direct flights between Nigeria and Italy following the exit of Alitalia.
“We are thrilled to partner with NeosAir on this important venture. This patronage reflects the trust and confidence that NeosAir has in our capabilities,” Taiwo Afolabi, Chairman of SAHCO said while speaking on the development.
“We are committed to delivering the highest quality of service to support their operations, ensuring safe, timely, and efficient ground handling for their flights,” he said.
Read also: SAHCO records N16.5bn revenue in 2023, mulls investment in equipment
He further stated that SAHCO is ISAGO and RA3 certified which means that it has the certification to handle all Europe bound cargo and can accept shipments from Europe as well.
“SAHCO has a proven track record of providing top-tier ground handling services to major airlines operating in Nigeria. The company is known for its dedication to safety, efficiency, and customer satisfaction,” Afolabi said.
Skyway Aviation Handling Company PLC was awarded the prestigious Punctuality Award by British Airways for its regularity and safety performance in the first and second quarters of 2024 at the Murtala Muhammed International Airport Lagos Station.
This has been a quarterly award for stations in the Middle East, Africa, and Asia Pacific regions.
SAHCO has also won the British Airways’ bronze award for achieving its punctuality target of 96 percent for the second quarter of 2024 at the Nnamdi Azikiwe International Airport, Abuja station which shows SAHCO’s consistent excellence at service delivery for winning the awards in the two stations where British Airways fly into.
British Airways (BA) is a global airline that is the United Kingdom’s flag carrier headquartered at Harmondsworth, England, UK near its main hub at London Heathrow Airport.
Skyway Aviation Handling Company Plc is 100 percent owned by the Sifax Group and incorporated as an Aviation Ground Handling Service Provider under the Nigerian Company & Allied Matters Act of 1990.
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