Nahco Aviance Share Price Update:
Price as at:
28 Aug 2014
Price: 4.95
Change: 0.05
% Change: 1.02
 
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Nigerian Aviation Handling Company Plc. (nahco aviance) is a Nigerian diversified enterprise with interests in aviation cargo, aircraft handling, passenger facilitation, crew transportation, fueling services and aviation training.

The company currently serves more than 35 airlines at seven airports across Nigeria, with plans to expand operations to other African countries. It handles about 70% of domestic and foreign airlines operating in Nigeria.

nahco aviance was incorporated on December 6th 1979 as an aviation servicing company but started operations in April 1979 with the commissioning of the Murtala Muhammed International Airport, Lagos. The Federal Government of Nigeria, through Federal Airports Authority of Nigeria (FAAN), initially held 60% equity interest in the company while four foreign airlines - Air France, British Airways, Sabena and Lufthansa - shared the remaining 40% in various ratios.

In 2005, nahco aviance was privatized and subsequently 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 and Rosehill Group Nigeria 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 112 stations in 17 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 2014. nahco aviance is rated Aa- by Augusto and A- by GCR.

Pursuant to the company’s commitment to exceptional value creation for shareholders, it is currently consolidating its aviation services operations and expanding across Africa.

The company was recently granted a license by the Federal Government to operate a Free Trade Zone.

nahco aviance employs more than 1, 700 Nigerian and expatriate staff and in 2013 generated N8.1 billion in revenue.