Nahco Aviance Share Price Update:
Price as at:
18 Jul 2018
Price: 3.99
Change: 0.00
% Change: 0.00
 
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The Nigerian Aviation Handling Company Plc. (nahco aviance) is a Nigerian diversified enterprise with interests in aviation cargo, aircraft handling, passenger facilitation, crew transportation and aviation training. The company currently serves more than 35 airlines at nine airports across Nigeria, with plans to expand operations to other African countries. It handles about 70 percent of domestic and foreign airlines operating in Nigeria.

nahco aviance was incorporated on December 6, 1979 as an aviation servicing company. Its establishment was largely tied to the Murtala Mohammed International Airport as it was the sole groundhandler purposely incorporated by the Federal Government of Nigeria to handle airlines at the new Lagos Airport.

At inception, the Federal Government, through the Federal Airports Authority of Nigeria (FAAN) held 60 percent equity interest in the company while four foreign airlines - Air France, British Airways, Sabena and Lufthansa - shared the remaining 40 percent in various ratios.
In 2005, nahco aviance was privatized and was listed on The Nigerian Stock Exchange in 2006. The Company is now owned by over 80, 000 shareholders, including two international airlines – Air France and Lufthansa; as well as local investors; Sycor Private Investment Limited, Rosehill Group Nigeria Limited and AWHUA Resources Limited. The company’s stock exchange symbol is “Nahco”.

Since its privatization, the company has embarked on business diversification programme that cuts across industries and geography, as a result of which it has developed strategic global alliances through its membership of aviance, the global alliance of 10 reputable airport service providers operating from 137 stations in 19 countries, and The International Air Cargo Association (TIACA), which exists to promote the air cargo industry and world trade.

In 2010, nahco aviance was awarded the ISAGO certification, the IATA Safety Audit for Ground Operations, becoming the first ground handling company in West Africa to receive one of the aviation industry’s highest honours for safety and service quality, and has been recertified till 2016. nahco aviance is rated Aa- by Augusto and A- by GCR.

In its commitment to exceptional value creation for shareholders, NAHCO is currently consolidating its aviation services operations and expanding across Africa.

The company has also incorporated NAHCO FTZ Limited with a licence issued by the Federal Government to drive the free trade zone initiative of the government at the airports. NFZ is the first airport based free trade zone. Other subsidiaries include Mainland Cargo Options (MCO) and Nahco Power Energy and Infrastructure (EPI).

nahco aviance employs more than 1,900 Nigerian and expatriate staff and in 2017 generated N7.5 billion in revenues