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New Investors Acquire 16.8% Stake in NAHCO

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By Dipo Olowookere

There is a possibility of seeing a new change in the shareholding structure of a notable ground handling company in the country, Nigerian Aviation Handling Company (NAHCO) Plc.

This is because investors last week, concluded the transfer of about 16.75 percent equity stakes in the firm on the floor of the Nigerian Stock Exchange (NSE) in an off-market deal.

As off-market, negotiated cross deals, it means that the deals were not subjected to the dynamics of price discovery for the particular period. Off-market trade implied that the deal was sealed outside the floor of the NSE.

According to The Nation, three deals were struck to complete major transfers that started with a cross deal on Thursday, bringing total transactions through the negotiated window of the local exchange to 271.848 million shares valued at N1.787 billion in four deals.

All the deals were cross deals and were consummated through the negotiated window of the NSE.

On Friday, a total of 119.92 million shares valued at N875.42 million were swapped at N7.30 per share.

Also, a total of 5.62 million shares valued at N33.73 million were also crossed at N6 while another 22.69 million shares worth N136.134 million were exchanged in a deal at N6 per share.

A deal had been struck for 123.64 million shares valued at N741.83 million at N6 per share on Thursday.

The negotiated cross deal platform of the Exchange is a special-purpose trading platform that is meant for voluminous transaction. By the cross deal, it implies that the buyer and the seller had been prearranged and the transfer at the stock market was a mere perfection of the agreement between the two. The negotiated cross deal allows the parties to the deal to close the deal at reduced cost.

Interim report and accounts of NAHCO for the first quarter ended March 31, 2018 had indicated that the company started the 2018 business year on a strong footing. Turnover rose to N2.188 billion in first quarter 2018 as against N1.786 billion in the corresponding period of 2017.

Finance income improved from N30.916 million to N64.495 million while the company was able to reduce finance cost to N44.536 million as against N55.715 million in first quarter 2017.

With these, profit before tax jumped to N117.405 million in first quarter 2018 compared with N1.026 million in first quarter 2017 while profit after tax leapt from N1.026 million in first quarter 2017 to N97.566 million in first quarter 2018.

Key extracts of the audited report and accounts of NAHCO for the year ended December 31, 2017 had shown improved margins, despite a lull in the top-line.

Turnover stood at N7.926 billion in 2017 compared with N7.956 billion in 2016. Finance cost reduced from N545 million in 2016 to N213 million in 2017.

Profit after tax increased by 33.6 per cent to N776 million in 2017 as against N581 million in 2016. Earnings per share improved from 36 kobo to 48 kobo.

The first quarter of the year results were the first full-quarter results produced by Mr Idris Yakubu, who took over as the Managing Director of the company last November.

The company had its dividend payout by 13.6 percent to N406 million. Shareholders received a dividend per share of 25 kobo for the 2017 business year as against 22 kobo paid for the previous year.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

Travel/Tourism

FAAN Launches Energy Efficient Shuttle to Support Abuja Airport

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FAAN abuja airport electric cars

By Adedapo Adesanya

The Federal Airport Authority of Nigeria (FAAN) has unveiled 30 airport electric shuttle which will be used to complement airside and landside logistics.

The shuttle, which comprises 10 vehicles and 20 saloon cars, will cost N10,000 per passenger from the Nnamdi Azikiwe International Airport, Abuja to the City Centre.

Speaking at the event, the governing board chairman of FAAN, Mr Abdullahi Ganduje, said: “Electric vehicles offer clear operational and environmental benefits. They are cleaner, quieter and more energy-efficient, significantly reducing carbon emissions and helping FAAN minimise its ecological footprint. Their use will contribute to healthier airport environments and a more comfortable work and travel experience.

“From a logistics standpoint, electric vehicles also enhance monitoring, coordination and compliance. Their predictable performance and lower maintenance demands improve operational planning, accountability and service reliability. Ultimately, this translates into more efficient, transparent and passenger-friendly services.

“This initiative directly supports global sustainability targets, including International Civil Aviation Organisation’s goal of achieving net-zero carbon emissions by 2050. By embracing electric mobility, FAAN is positioning Nigerian airports to remain competitive, responsible and future-ready.”

Mr Ganduje pledged the commitment of the board to ensure that the initiative is utilised, maintained, and expanded to other airports in the country.

On her part, the managing director of FAAN, Mrs Olubunmi Kuku noted that the agency has secured approval to deploy 100 electric vehicles to operate as airport shuttles at Lagos and Abuja airports.

“We have secured approval to deploy 100 Electric Vehicles (EVs) to operate as airport shuttles at both Murtala Mohammed International Airport, Lagos, and Nnamdi Azikiwe International Airport, Abuja. It is a monumental step towards greening our operations and reducing our carbon footprint.”

“We proudly begin this journey with the first phase: the launch of these 10 state-of-the-art electric shuttle buses. They represent more than just transport; they symbolise cleaner air, quieter terminals, and a to pioneering sustainable infrastructure in Nigerian aviation”.

She expressed optimism that the initiative would be replicated across all airports in the country.

The head of Fleet Operations of Possible EVS, Mrs Abimbola Gyer while stating that the transport fare would be subsidised for passengers, added that operations would commence from 7am to 7pm daily.

“We partner with NEV Electric, the manufacturer of the electric buses. We would be moving passengers from the airport to the city centre at the rate of N10,000 and as demand continues, we will expand our hub. The operations will start from 7 a.m. to 7 p.m daily,” she noted.

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Quickteller Travel Secures IATA Certification

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Quickteller Travel

By Modupe Gbadeyanka

The travel and tourism service powered by Interswitch, Quickteller Travel, has been issued a certification from the International Air Transport Association (IATA).

With IATA certification, Quickteller Travel is now fully equipped to connect African travellers to global destinations, support airlines and partners with reliable distribution and settlement, and set a new standard for trusted, digitally enabled travel across the continent.

The IATA accreditation reinforces Quickteller Travel’s operational credibility, compliance standards, and ability to deliver secure, efficient, and globally recognised travel services.

It also strengthens the platform’s positioning as a reliable partner for airline bookings, corporate travel management, and end-to-end travel solutions across Africa and beyond.

The certification is a milestone that places the brand among a global network of trusted and accredited travel service providers.

This achievement comes at a time when Africa’s travel and tourism sector is experiencing renewed growth, driven by increased business travel, regional connectivity, and digital adoption.

With IATA certification, Quickteller Travel is poised to offer individuals, SMEs, corporate organisations, airlines, and other travel stakeholders a seamless digital experience, supported by Interswitch’s trusted payment infrastructure.

Integrated into the broader Quickteller and Interswitch ecosystem, Quickteller Travel combines global accreditation with local insight, offering African travellers and businesses a secure, seamless, and digitally empowered experience.

The Vice President for Transport Ecosystem at Interswitch, Ms Nnenna Ajanwachuku, said, “The IATA certification is a strong validation of Quickteller Travel’s operational standards, governance, and commitment to excellence. It enhances trust for travellers, corporate partners, and global airline stakeholders who rely on accredited platforms for secure and transparent travel transactions.

“For Interswitch, this milestone reinforces our mission to build technology-led solutions that unlock access, simplify commerce, and connect Africa to the global economy.”

Ms Ajanwachuku added that the approval would enable Quickteller Travel to deepen partnerships with airlines and travel service providers while offering customers greater confidence, choice, and value.

“Quickteller Travel is not just a booking platform; it is part of an ecosystem designed to make travel more accessible, reliable, and digitally enabled for Africans. Powered by Interswitch’s heritage of trust and innovation, we are building a platform that meets global standards while responding to local travel needs,” she said.

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Emirates, Air Peace Enhance Seamless Global Connectivity

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Emirates Air Peace

By Modupe Gbadeyanka

Two key players in the Nigerian aviation industry, Emirates and Air Peace, have activated a bilateral interline agreement aimed to expand air connectivity between Africa, the United Arab Emirates (UAE), and London.

The two airline operators are building on their existing partnership to offer their passengers frictionless, single-ticket travel and with through-checked baggage, on select routes, resulting in greater travel comfort and convenience for customers.

Beyond the 13 cities in Nigeria already available for Emirates passengers on Air Peace’s network, the enhanced interline agreement now enables travellers to connect with Banjul in Gambia and Dakar in Senegal, both via Abidjan; and with Freetown in Sierra Leone and Monrovia in Liberia, both via Accra. The additional gateways allow more passengers in Africa to access Emirates world-class product and services, and vast global network.

The agreement allows Air Peace to connect its extensive West and Central African route system into Emirates’ hub in Dubai, and on key destinations including London Heathrow, London Gatwick and London Stansted, Abidjan, Accra and, of course, Lagos.

With huge demand for travel between Nigeria and the United Kingdom,  providing Air Peace passengers with increased choice, flexibility, and global reach.

Emirates operates a Boeing 777-300ER on its Dubai-Lagos route, providing travellers with one of the best experiences in the sky.

Passengers can dine on regionally inspired multi-course menus developed by a team of award-winning chefs complemented by a wide selection of premium beverages, while tuning in to over 6,500 channels of global entertainment – including Nollywood classics – on ice, Emirates’ award-winning inflight entertainment system.

As one of only two airlines operating a First Class cabin into Nigeria, Emirates offers an unrivalled travel experience defined by comfort, privacy and luxurious touches.

With a fleet of over 50 aircraft including Boeing 777s, Boeing 737s, Embraers, Air Peace operates an expanding network of domestic, regional, and international services, connecting major cities across Africa and beyond.

The airline remains committed to strengthening intra-African connectivity, supporting trade and tourism, and contributing meaningfully to economic development across the continent.

“Enhancing our interline partnership with Air Peace allows us to expand our footprint across more of Africa, creating new opportunities for people to fly better with Emirates, while helping international tourists explore more of the region, via Lagos.

“We remain committed to working with strategic partners such as Air Peace to further strengthen Nigeria’s aviation, tourism and trade sectors,” the Chief Commercial Officer for Emirates, Mr Adnan Kazim, said.

His counterpart at Air Peace, Nowel Ngala, while commenting, said, “This interline agreement with Emirates represents a major step in Air Peace’s strategic vision to connect Africa more efficiently to global markets.

“By combining our strong regional presence with Emirates’ extensive international network, we are delivering seamless connectivity, improved travel experience, and greater access to key global destinations for African travellers. This partnership further reinforces Air Peace’s role as a critical bridge between Africa and the global aviation ecosystem.”

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