NAHCO Records N143.18m Loss In Six Months

Nigerian Aviation Handling Company Plc has recorded a loss of N143.18m for the half year ended June 30, 2020 as against a profit of N467.259m reported in the same period of 2019.

The company, in a report obtained from the Nigerian Stock Exchange, reported a loss before tax of N179.99m in H1 2020, compared to a profit before tax of N579.595m in H1 2019.

The firm’s revenue fell to N3.58bn from the N4.80bn posted in H1 2019, representing a drop of 25.42 per cent.

NAHCO recently took over the ground handling operations of Ethiopian Airlines Cargo and Mail Services.

This was effected based on the provisions of the Standard Ground Agreement Service signed on October 1, 2018 between NAHCO Plc and Ethiopian Airlines.

According to the Head, Legal Services, NAHCO, Tayo Ogunbanjo, the current agreement between NAHCO and Ethiopian Airlines is for three years effective from October 1, 2018, covering, among others, ground handling services, handling of cargo and mail generally.