Shareholders of Skyway Aviation Handling Company (SAHCO) Plc have approved a total dividend payout of ₦812m for the 2024 financial year, reflecting a significant increase in shareholder returns.
The approval was given at the company’s Annual General Meeting (AGM) held in Lagos.
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.
Speaking at the AGM, the Chairman of SAHCO, Dr. Taiwo 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.
“Notably, SAHCO entered Nigeria’s religious tourism sector by handling Hajj flights for Flynas and Umza Air and also clinched a full handling contract with Neos Air, reactivating the Nigerian-Italian aviation corridor after nearly two decades,” he said.
Afolabi stated that SAHCO set a record 37-minute turnaround time for offloading 37 pallets from an Ethiopian Airlines Boeing 777 cargo flight. The company according to him also maintained its global safety standards with successful renewals of the IATA Safety Audit for Ground Operations (ISAGO) and RA3 certifications.
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.
She said the company also strengthened its safety credentials by passing ISAGO audits across all hub stations, renewing its RA3 certifications, and affiliating with the Institute of Safety Professionals of Nigeria (ISPON).
Aboderin said SAHCO plans to deepen this commitment in 2025 through the adoption of an Environmental Management System (EMS), the commencement of IATA CEIV certification processes, and adherence to ISO 9001:2015 standards.
Looking ahead, Afolabi outlined the company’s strategic roadmap for 2025, which includes expanding its footprint across Africa, investing further in digital transformation, and restructuring operations into Strategic Business Units (SBUs) to boost market responsiveness.
He said the company will also embark on a comprehensive staff audit and training programmes aimed at enhancing workforce efficiency and reducing operational costs.
With a focus on sustaining growth, strengthening corporate governance, and delivering long-term value to stakeholders, he said the compaby it is poised to continue its trajectory as one of Nigeria’s leading ground handling and aviation services providers.
Commenting on SAHCO’s performance during the AGM, President of New Dimension Shareholders Association, Mr. Patrick Ajudua commended the Board and Management for weathering the storm of 2024 to declare dividend for shareholders.
Corroborating him, another Shareholder, Olugbosun Banji described the outstanding performance despite the tough operating environment to a legacy of excellence foundation over the years.
