Travel/Tourism
New Investors Acquire 16.8% Stake in NAHCO
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.
Travel/Tourism
Airlines Face Fresh Turbulence Over Jet Fuel Scarcity
By Adedapo Adesanya
The National Association of Aircraft Pilots and Engineers (NAAPE) has revealed that Nigerian airlines are battling a severe jet fuel crisis, triggered by soaring jet fuel prices and supply shortages.
This is the latest blow to the aviation industry, which escaped an industrial action by airline operators over the price of jet fuel.
The latest development is increasing costs, disrupting flights and creating concerns about operational safety and sustainability.
According to Reuters, the persistent scarcity of jet fuel has triggered widespread operational challenges, including flight delays, route adjustments and extended crew duty periods, as airlines struggle to manage schedules amid rising costs.
According to the President of the association, Captain Bunmi Gindeh, the fuel shortages were pushing crews beyond planned limits, increasing fatigue and potentially eroding safety margins in an industry governed by strict rest regulations.
According to local carrier Rano Air, it revealed that jet fuel prices had more than quadrupled, as well as made some routes commercially unsustainable, forcing operational adjustments.
Other carriers have also begun rescheduling or cancelling flights and cutting unprofitable routes, industry sources cited by Reuters said.
This comes at a difficult time for Nigeria’s aviation sector, already strained by foreign-exchange volatility, high aircraft maintenance costs, airport infrastructure strains and fuel price swings.
Airlines group, Airline Operators of Nigeria (AON), last month threatened to suspend operations over what they described as crippling and artificially inflated jet fuel prices.
Nigeria’s airline industry carries millions of passengers annually across an extensive domestic network and plays a critical role in connecting cities where road travel is often slow or insecure, making reliable air services economically and socially important.
The publication reported that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said fuel prices would not be capped, adding that any decisions on deregulated products would be formally communicated.
The crisis is worsening existing problems in Nigeria’s aviation sector, including forex instability, expensive aircraft maintenance and weak infrastructure.
Travel/Tourism
FG Unveils Leasing Initiative to Cut Airlines’ Fleet Acquisition Costs
By Adedapo Adesanya
The federal government has approved the establishment of a national aircraft leasing company aimed at easing access to modern fleets for domestic airlines and transforming aviation financing in Nigeria.
The minister of aviation and aerospace development, Mr Festus Keyamo, announced the decision after a meeting of the Federal Executive Council (FEC), describing the move as a significant shift in how Nigerian carriers will acquire and finance aircraft.
Mr Keyamo said the proposed company would operate as a private-sector-driven Special Purpose Vehicle (SPV) with government backing.
“This initiative is a game-changer for our aviation industry. It eliminates the long-standing challenges Nigerian airlines face in accessing aircraft on competitive terms and positions the country as a hub for aviation financing in Africa,” he said.
According to the minister, the new platform will allow airlines to source aircraft through a centralised system, replacing the current model where operators negotiate individually with international lessors, often at higher costs and stricter terms.
Mr Keyamo noted that the government’s role would be largely supportive, providing sovereign guarantees to boost investor confidence, while private sector players drive the project.
“Through the Ministry of Finance Incorporated, the government will hold equity and earn revenue without direct financial investment. Our primary obligation is to provide the confidence investors need, especially in ensuring asset security,” he added.
The initiative, he said, has already begun attracting interest from both local and international investors, signalling early confidence in its viability.
Beyond supporting Nigerian carriers, the leasing company is also expected to extend services across West Africa and the broader continent, positioning Nigeria as a regional hub for aircraft leasing.
Airlines in Nigeria have come into focus in recent weeks due to renewed concerns over the financial sustainability of operators, which almost forced them to suspend operations last month. However, the Bola Tinubu-led government approved a 30 per cent relief on debts owed by local airlines to aviation agencies and ordered talks involving fuel marketers, airlines, and regulators to reach a fair jet fuel price.
Travel/Tourism
Passengers to Enjoy Starlink Wi-Fi on Emirates’ Flagship A380
By Aduragbemi Omiyale
Air travellers flying through Emirates will enjoy Starlink Wi-Fi onboard after the completion of the installation of the internet service on the company’s flagship A380.
The introduction of Starlink on the A380 builds on Emirates’ ongoing investment into redefining the customer journey, including one of the most ambitious retrofit programmes in aviation history.
The airline operator recently test-run this on a flight to Dubai, and it allowed passengers to enjoy seamless broadband while flying at 40,000 feet.
The Emirates A380 was one of the first commercial aircraft in the world to offer internet to its customers, with first-generation systems offering a total aircraft bandwidth of less than 1 Mbps. The installation and certification were accomplished in Newquay, UK.
With more A380s scheduled for accelerated installation throughout 2026, Emirates customers will soon enjoy a transformative leap in onboard connectivity with the ability to stream, game, browse, and work throughout their journey on personal devices.
The service will be complimentary for all customers, across all cabins, with easy sign-up and access. Future enhancements will include Live TV streaming over Starlink, initially on personal devices and later integrated into seatback screens.
So far, more than 650,000 Emirates customers have already flown on Starlink‑equipped flights, experiencing the benefits of next‑generation onboard connectivity firsthand.
As the world’s largest passenger aircraft, the A380 presents unique engineering challenges and opportunities. This industry-first Starlink configuration is designed to meet the demands of the A380’s ‘double-decker’ layout and high passenger capacity and is capable of delivering more than 2 Gbps of total aircraft bandwidth across the cabin.
Compared with the Emirates Boeing 777, the Emirates A380 features additional wireless access points and a third antenna to deliver an enhanced connectivity experience for its higher passenger capacity. Optimised inter‑deck integration supports a seamless Wi‑Fi experience, with customers able to enjoy high speeds depending on usage and device capability.
Starlink installations will soon begin at Emirates Engineering facilities in Dubai to accelerate deployment across the fleet.
Emirates is committed to bringing the best possible connectivity to its entire fleet at the earliest opportunity, with 25 Boeing 777-300ER aircraft already equipped with Starlink and the first A380 now joining service.
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