SAHCO seeks FG incentives as asset base surges

Skyway Aviation Handling Company Plc, (SAHCO) has appealed to the Federal Government to provide policy support and fiscal incentives for the acquisition of aviation Ground Support Equipment.

The company, while making the appeal, also reported a significant expansion of its asset base to N57.1bn in 2025.

Managing Director, Mrs Adenike Aboderin, disclosed this while briefing aviation journalists at the company’s headquarters at the Murtala Muhammed Airport, Lagos, on Monday.

Aboderin, who called for incentives, also announced a major financial upswing after it generated N31.7bn in revenue within the first nine months of the year. The N31.7bn figure represents a 58 per cent increase over the N20.1bn posted in the same period of 2024.

She described the performance as “highly commendable” given the industry’s severe macroeconomic challenges, including inflation, unstable foreign exchange, rising utility charges, and the escalating cost of imported aviation equipment and spare parts.

The SAHCO boss said, “You all know what we’re facing in the aviation industry. Overheads are going higher, inflation, foreign exchange, cost of utilities, and most of our equipment, spare parts, most of which are foreign-based. So that has brought a lot of headwinds and impractical outcomes for us.”

Aboderin explained that despite the economic pressures, SAHCO continued to deliver value to shareholders, airlines, and stakeholders across more than 22 airport locations nationwide. A breakdown of the results shows that gross profit rose 47 per cent to N18bn from N12bn last year, while profit before tax surged 82 per cent to N10bn compared with N5.5bn in 2024.

SAHCO’s total assets also increased from N40bn to N57.1bn, representing 31 per cent growth driven largely by investments in GSE acquisitions, infrastructure upgrades, and technology renewal.

“Through efficiency, discipline, and strategic investments, we have strengthened our financial resilience. Our focus remains operational excellence, digital transformation, and sustainability,” she said.

Aboderin emphasized the company’s technology-driven reforms over the past year, noting the introduction of e-billing, an in-house flight operations app, a digital budgeting tool, document management software, and enhanced cybersecurity.

According to her, these initiatives collectively enabled a 27 per cent reduction in year-on-year costs.

Aboderin disclosed that SAHCO’s green transition is ongoing efforts to replace ageing equipment with electric, eco-friendly alternatives.

She said the company now operates the largest number of electric-GSE charging points in Nigerian airports and is installing solar-powered charging stations as part of its sustainability plan through 2028.

Speaking on export growth, Aboderin highlighted improvements in cargo handling infrastructure, including expanded drop-off lanes, upgraded TSA-compliant screening machines, enhanced export processing tunnels, and improved cold chain storage in Lagos and Abuja.

“A new cold room would be installed in Abuja in the first quarter of 2025. SAHCO’s cold chain facilities now support regional transit of temperature-sensitive goods from neighbouring West African countries,” she added.

She cited among the clients gained in the last nine months to include: Air Tanzania, Air Algérie, Ethiopian Airlines (Abuja), ValueJet, and United Nigeria Airlines’ regional operations, while it has also commenced services at Bayelsa Airport and Ogun State’s Gateway Agro-Cargo Airport.

Aboderin predicted that the company expects sustained growth in 2025 as it deepens investments in technology, people, and regional expansion.

She noted that SAHCO is looking beyond ground handling, as it is diversifying into e-commerce logistics, helicopter services under its subsidiary SIPA SACOL Aviation, ticketing through SS Travels, and an expanded aviation training academy.

 “We have delivered strong growth — 82 per cent profit increase, 57 per cent revenue growth and a N13bn rise in assets. If we continue on this path, supported by our partners and our people, the future remains bright,” she averred