The Chairman of Skyway Aviation Handling Company (SAHCO) Plc, Dr. Taiwo Afolabi, has disclosed that the company is pursuing strategic expansion beyond Nigeria, with plans to establish operations in other African countries and explore opportunities in Europe.
Speaking to THE WHISTLER on the sidelines of the company’s Annual General Meeting (AGM) in Lagos, Afolabi said SAHCO has initiated discussions with relevant authorities in Ghana and is considering extending its ground handling services to other airports across the continent.
“We recently had a meeting with officials in Ghana, and we are trying to expand our footprint to other African airports where we can provide ground handling services,” he said.
“There are several locations where we are looking to establish operations. In fact, we’ve also received an invitation to London, and we are exploring the possibilities there.”
He noted that the company’s growth strategy includes tapping into emerging markets across Africa and other regions, stressing that international expansion is central to SAHCO’s long-term vision.
Addressing concerns about the challenges posed by foreign exchange (forex) volatility, Afolabi acknowledged the impact of naira devaluation on the company’s operations. However, he expressed optimism following recent adjustments to service charges approved by regulatory authorities.
“Yes, the naira has been significantly devalued, and that has affected our operations,” he said. “But thankfully, the authorities have approved an upward review of our rates, which we have already implemented. We are also working closely with stakeholders to navigate other operational challenges.”
He assured shareholders and stakeholders that despite the macroeconomic headwinds, SAHCO remains committed to its growth objectives and will continue to pursue opportunities that strengthen its position as a leading aviation ground handling service provider.
Meanwhile, Shareholders of SAHCO at the company’s Annual General Meeting (AGM) held in Lagos approved a total dividend payout of ₦812m for the 2024 financial year, reflecting a significant increase in shareholder returns.
The dividend, which amounts to 60 kobo per share, represents a 100 per cent increase from the 30 kobo per share paid the previous year.
Afolabi, highlighted the company’s resilience and strategic agility in navigating Nigeria’s challenging macroeconomic environment.
Afolabi announced that SAHCO recorded a 74.8 per cent increase in revenue in 2024 compared to the previous year. He attributed this growth to operational efficiency and a wave of newly secured contracts.
According to him, among the major contracts renewed or secured during the year were a five-year ground handling agreement with British Airways and another five-year deal with South African Airways.
The company also expanded its client portfolio by partnering with several key local and regional carriers, including Bristow Airlines, ValueJet, Ibom Air, Green Africa, and Air Côte d’Ivoire.
He noted that SAHCO’s ground handling services further extended to new routes, such as Air Peace’s London operations, Ibom Air’s regional services to Accra, and Uganda Airlines’ expanded Abuja route.
Managing Director/CEO of SAHCO, Mrs. Adenike Aboderin, noted the company’s continued investment in strategic assets to enhance service delivery.
According to her, in 2024, SAHCO acquired a wide range of new ground support equipment (GSE), including towed passenger steps, belt loaders, pallet dollies, forklifts, and cargo tractors. These additions, she noted, were essential to managing growing operational demands and aligning with international sustainability standards.
“Eco-friendly equipment acquisitions are central to our vision of safe, efficient, and environmentally responsible operations,” Aboderin said, adding that SAHCO’s commitment to innovation and safety remains unwavering.