By Kayode Ogunwale

L-R: Executive Director, Skyway Aviation Handling Company (SAHCO) PLC, Mr Abiodun Adegbesan; Managing Director/CEO, SAHCO, Mrs Adenike Aboderin; Chairman, SIFAX Group/ SAHCO, Dr Barr Taiwo Afolabi (CON); Executive Director, SAHCO, Mrs Boma Ukwunna; Executive Director, SAHCO, Dr Babatunde Afolabi; Company Secretary, SAHCO, Ms Jesuyemisi Odeyemi at the SAHCO PLC 15th Annual General Meeting.

 

Skyway Aviation Handling Company PLC (SAHCO) has articulated its ambitious plans to enhance its market footprint across the African continent, aiming to capitalize on the burgeoning opportunities within the regional aviation sector. This strategic intent was prominently showcased during the company’s 15th annual general meeting, which convened in the vibrant city of Lagos, Nigeria.

During the meeting, the Chairman of SAHCO, Dr. Taiwo Afolabi, emphasized a significant part of the company’s future growth strategy revolves around substantial investments in advanced technology and a comprehensive digital transformation initiative.

According to Afolabi, these measures are intended not only to refine operational efficiency but also to elevate the overall customer experience.

He highlighted the crucial role that innovation plays in enabling SAHCO to meet and exceed the evolving expectations of its clients and partners.

Dr. Afolabi further underscored the importance of fortifying corporate governance and adhering strictly to ethical business practices.

He stated that these elements are fundamental to ensuring sustainable growth and creating long-lasting value for all stakeholders involved with the company. By prioritizing integrity and accountability, SAHCO aims to build a trustworthy reputation that instills confidence among investors, customers, and employees alike.

In his discussion on operational efficiency, Dr. Afolabi proudly announced that SAHCO has set a remarkable industry benchmark in aircraft handling efficiency.

He cited a recent achievement involving Ethiopian Airlines, where the company successfully completed a turnaround time of just 37 minutes for a cargo flight, which involved the offloading of 37 pallets from a Boeing 777 aircraft in record time. This feat reflects SAHCO’s commitment to optimizing its processes and ensuring swift service delivery.

Moreover, Dr. Afolabi mentioned that SAHCO is dedicated to continuous investment in cutting-edge, environmentally friendly ground support equipment. These investments are designed to align with international best practices, enhancing the company’s operational capabilities while simultaneously promoting sustainability within the aviation industry. The chairman’s remarks underscore SAHCO’s proactive approach to not only expanding its operational base but also contributing positively to environmental stewardship in aviation.

The chairman said, despite the challenges in the economic environment, SAHCO demonstrated remarkable resilience and strategic agility

He said, SAHCO achieved a 74.8 percent increase in revenue for the year ending December 2024 compared to the previous year, driven by new contracts and operational efficiency.

The company shareholders however approved 60 kobo dividend per share for the financial year 2024 as against 30 kobo paid in 2023. The total dividend approved is N812.148 million .

In her speech, Mrs. Adenike Aboderin, the Managing Director and Chief Executive Officer of SAHCO, articulated a compelling vision for the company’s future, particularly emphasizing the outlook for 2025.

She expressed optimism about the organization’s trajectory, stating that the company would steadfastly continue its commitment to excellence.

“As we gaze towards the horizon of 2025,” Mrs. Aboderin remarked, “our unwavering focus will revolve around embracing the core values that have long defined our organization, while simultaneously advancing our mission and vision.”

She underscored the crucial importance of maintaining optimal operational efficiency as a cornerstone of the company’s strategy, all while diligently working to minimize costs wherever feasible.

To adapt more effectively to the ever-changing dynamics of the industry, she announced plans to restructure the organization along the lines of Strategic Business Units (SBUs). This strategic realignment aims to enhance SAHCO’s market agility, ensuring that the company is well-equipped to respond promptly and effectively to the evolving landscape of the logistics and cargo handling sector.

In addition to these strategic initiatives, Mrs. Aboderin emphasized the importance of investing in human capital. “In our pursuit of operational excellence, we will be conducting a comprehensive staff audit and gap analysis,” she stated.

Commenting on the company’s overall performance, a shareholder, Mr. Patrick Ajudua, took the opportunity to express his commendations for the remarkable achievements of SAHCO throughout the financial year of 2024.

Ajudua praised the company’s results, highlighting the impressive nature of its bottom line, which reflects substantial growth and a solid financial footing for the organization.

“This impressive performance is a testament to the hard work and strategic planning that both the board and the management have employed,” Ajudua remarked.

He emphasized the need for the leadership to sustain this momentum in the upcoming financial year, encouraging them to build upon the success already achieved and to strive for even greater accomplishments. Ajudua articulated his confidence that with continued dedication and innovative practices, the company can replicate, if not exceed, its current performance.

He expressed his satisfaction with the announcement of a 100 percent increase in the dividend payout, calling it a “welcome development” that reflects the company’s commitment to returning value to its shareholders.

Ajudua noted that such a development is undoubtedly encouraging, and he hopes that the level of shareholder return can be maintained as the company progresses in the future.

This move, according to Ajudua, not only rewards investors but also reinforces confidence in SAHCO’s ongoing operational strategies and prospects.