Skyway Aviation Handling Company Plc, SAHCO, a leading ground service provider in the Nigerian aviation industry is transforming positively.
SAHCO formerly SAHCOL and a federal government entity being one of the subsidiaries of the defunct national carrier, Nigeria Airways was privatized and handed over to the Sifax Group in December 2009.
Before the recent announcement of its Initial Public Offer (IPO) for the sale of 406,074,000 shares on Monday, November 12, 2018, the then SAHCOL had been enlisted on the floor of the Nigerian Stock Exchange to reposition it better for the jobs ahead.
Prior to its enlist and the initial IPO for the sale of 406,074,000 shares, SAHCO under the leadership of its Chairman, Dr Taiwo Afolabi and management had embarked on a total massive investment as witnessed in the acquisition of world standard handling equipments that can compete in any part of the world.
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The height of the transformation lies in the gigantic well equipped warehouse facilities the new owner of the ground handling company erected at the cargo terminal of the international wing of the Lagos airport capable of accommodating about three million tonnage of cargo monthly with six freezers and refrigerators to preserve perishable and non perishable goods at its warehouses.
The company which has consistently recorded 4.43 per cent annual revenue growth since 2009.
Taking some media houses round the facilities last week, the Managing Director of SAHCO, Mr Basil Agboarumi had declared that over the years, SAHCO had recorded tremendous growth, remarkable improvements and had added value to aviation equipment in Nigeria.
According to him, the market share of SAHCO had grown from 21 per cent in 2009 to over 40 per cent in 2018, while its revenues had increased
by over 100 per cent post privatization. Equally, the handling company had recorded improved profitability with a five-year average operating and
profit margin of 12.1 per cent and 11.6 per cent respectively by the end of December 2017.
From the information gathered, the company has invested fortunes running to billions of Naira to ensure safety of goods coming in and going out of the warehouse to the extent that no loss has been incurred in the recent past.
As a pro-active and futuristic company, SAHCO has succeeded in keying into the vast technology available to ground aviation handlers all over the world as evident in the upgrade of the facilities and equipment that matches with the very best anywhere in the world.
The icing on the cake for the company is based on its management team made up of experts and professionals who are said to be dedicated to ensuring the satisfaction of their customers and clients.
To many in the country’s aviation sector, SAHCO has been a success story considering the privatization policy of the federal government in view of how the company has gradually moved to become a preferred household name among airlines including both domestic and foreign airlines as witnessed the high patronage the handling company enjoys from them.
As attested to by the Director General of the Bureau for Public Enterprises (BPE), Alex Okoh during his post privatization visit to the company, he described SAHCO as one of the success stories of the privatization program which he said can be replicated in other enterprises.
His words: “Essentially, we want you to know that we are quite pleased with the progress SAHCO has made so far, which goes to justify the principles of privatization”.
Without doubt, key players across the sector have expressed pleasant surprises at the positive transformation and achievements made by the management of SAHCO since its privatization and again, without doubt, its present status having been enlisted on the Nigerian Stock Exchange can only get better as those managing the company have shown that they understand the critical elements required to make such a company a successful and profitable enterprise.
With the facilities installed at its warehouse, coupled with the present young management team backed by a core professional and well traveled businessman as its chairman, who is ever ready to invest massively massively when the need arises, SAHCO is a ground handling company that will go far.
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