NAHCO ENDS 2024 ON HIGH NOTE: share price soars 81.3%, retains int’l clients, forecast N300bn revenue

Dr. Seinde Oladapo Fadeni, Chairman, Board of Directors, Nigerian Aviation Handling Company Plc. (nahco aviance)

Against the odds and the hullabaloos that permeated the national economy in 2024, not to mention the “headwind” in the air transport sector which was the outcome of floating the Naira and its free fall at the foreign exchange market, especially against the United States Dollar, USD, yet, the leading ground handling company in the entire west coast of Africa, Nahco aviance, not only stood its ground but brave those odds, hit the runway, and soared.

An eloquent testimony that Nahco attained lofty heights and cruised, reflected in the three international airline contracts it clinched between the third and the last quarter of the year, 2024.

The airlines that Nahco aviance succeeded in retaining their contracts are Emirates Airlines, Turkish Airlines, and Virgin Atlantic Airways.

Recall that Emirates was in the eye of the storm, in a diplomatic row, which compelled the airline to cease operations from Nigerian airspace for close to two years.

After the resolution of the impasse between the Federal Government of Nigeria, FGN, and the government of the United Arab Emirates, UAE, Emirates Airways resumed scheduled flight operations to Nigeria in October 2024.

**Mr. Indranil Gupta, Group Managing Director/Chief Executive Officer, NAHCO Plc**

On its resumption, Emirates was compelled to opt for the superior service it had previously enjoyed from nowhere else but Nahco aviance hence, Nahco was re-affirmed to continue the provision of complete ground handling services for the next five years.

Needless to add Emirates’ choice of Nahco was an open affirmation that the superior services enjoyed in Nahco did not wane rather it soared in quality.

British carrier, Virgin Atlantic Airways, has always pitched its tent with NAHCO for excellent service delivery.

The ground handlers’ relationship with Turkish Airlines dates back to several years and Nahco has consistently been the preferred service provider for the Airline.

Taking cognizance of the potential of the net worth of clients in Nahco’s kitty, coupled with its inspiring performance at the Nigeria Stock Exchange Market, the management forecast a projected revenue of N300 billion by 2029.

NAHCO’S PERFORMANCE ON THE STOCK MARKET IN DECEMBER 2024
As at the close of trading on the Nigerian Stock Exchange, NGX, on Monday, 30th December 2024, nahco aviance closed its last trading day at 46.05 NGN per share, thus recording a 0.1% drop from its previous closing price of 46.10 NGN.

Nahco began the year 2024 with a share price of 25.40 NGN and has since gained 81.3% on that price valuation. It ranked 41st on the NGX in terms of year-to-date performance.

Moreover, shareholders can be optimistic about NAHCO knowing the stock has accrued 24% over the past four-week period alone—32nd best on NGX.

According to the data of the Nigerian Stock Exchange, Nahco is the 56th most traded stock on the exchange over the past three months, from 30th September to 30th December 2024.

NAHCO has traded a total volume of 90.2 million shares—in 4,526 deals—valued at NGN 3.38 billion over the period.

The leading ground handler also recorded an average of 1.43 million traded shares per session. For the same period, a volume high of 9.44 million was achieved on 6 December and a low of 85,306 on 18 October.

The Group Managing Director/Chief Executive Officer, NAHCO Plc, Mr. Indranil Gupta, expressed satisfaction with the company’s performance and summarised it thus, “this is very good news for the Company and its shareholders”.

Gupta further enthused, “We will continue to lead the way, satisfy our clients and delight our shareholders. It is a promise we will keep”.

The GMD/CEO expressed NAHCO’s determination to meet the revenue target thus, “NAHCO will continue to invest in equipment and in training to meet our obligations to our clients and to meet our revenue target,” Gupta further added.

**Table above is the last 10 trading days activities in December 2024, of Nigerian Aviation Handling Company Plc, on the Nigerian Stock Exchange NGX**

The Group Executive Director, Commercial & Business Development, nahco aviance, Prince Saheed Lasisi said, “It is a measure of the trust the airlines have in us that inspired the extension of their contract with us. We are so delighted with this and will go beyond expectations in making them the most satisfied airlines operating into and out of Nigeria.”

According to him, any airline that provides superior service will depend on the ground handler that offers the best service to keep its topflight position. He said NAHCO is honoured with the trust reposed in her by these reputable carriers.