Wednesday, February 06, 2019 8.00AM /
The management of Nigerian Aviation Handling Company (NAHCO) Plc has assured that the company will sustain its upwardly growth trajectory as it seeks to improve its operations to deliver greater value to customers and better returns to shareholders.
Managing Director, Nigerian Aviation Handling Company (NAHCO) Plc, Mrs Olatokunbo Fagbemi, said the company would build on existing advantages and open up new opportunities to sustain impressive growths in the years ahead.
She said the company will reenergize its system to ensure improved customer service in lines with international standards.
“My top priority is very simple, it is to get everything right because when we get everything right for the customer and we deliver the right kind of service, then we get the right kind of income that can trickle down to profit and it is from the profit that we are going to be able to pay the right kind of dividend,” Fagbemi said.
According to her, the company will going forward enhances its processes to create an enviable place to work in, a company that is operating in line with international standards, the one that follows all the regulations and deliver greater stakeholder value.
Fagbemi, who recently took over the management of the company, spoke when the newly appointed directors and executives members of the company visited the Nigerian Stock Exchange (NSE).
“A lot of work has been done in the past, what I will do is build on what is there, the areas where there are gaps, my priority will be to close those gaps and ensure that we deliver services in a safe and secured manner,” Fagbemi said.
She said the company will invest in human capacity and technologies to ensure that the company continuously has the requisite people with the right knowledge and the right processes to deliver world-class services in line with ICAO and IATA standards.
“What we are going to do is put into our people the right kind of knowledge, the right kind of vision and passion that drives everybody to excel. Because even if we put in the best systems, we have the best facilities, we have the best equipment, if we don't get the people right, it is going to be a waste,” Fagbemi said.
Against the background of the performance of the company in the third quarter, she said the company is implementing policies that will enable it to sustain growth irrespective of the challenges in the economy.
According to her, while there are challenges in every company and the economy, the company’s plan and strategies enable it to identify challenges and risks and find ways to tackle these.
“We have strategies in place and that's why we are taking early decisions already. We started last year, we invested in equipment and we are going to do more so that we don't wait to run out of equipment before we run around. We are also refreshing our facilities so we are not going to wait until everything falls apart before we put it together,” Fagbemi said.
Key extracts of the interim report and accounts of NAHCO for the period ended September 30, 2018 showed that profit before tax doubled by 107 per cent to N731.8 million in third quarter 2018 as against N336 million recorded during the comparable period of 2017. Profit after tax also increased by 110 per cent from N287.4 million to N601.3 million. The company’s turnover had risen by 25 per cent to N7.25 billion.
NAHCO, a diversified group with interests in aviation cargo, aircraft handling, passenger facilitation, crew transportation and aviation training, currently serves more than 35 airlines at 11 airports across Nigeria, with plans to expand operations to other African countries. It handles about 70 per cent of domestic and foreign airlines operating in Nigeria.
Incorporated on December 6, 1979 as an aviation servicing company, NAHCO 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 per cent equity interest in the company while four foreign airlines - Air France, British Airways, Sabena and Lufthansa - shared the remaining 40 per cent in various ratios. In 2005, NAHCO was privatized and subsequently listed on the NSE in 2006.