Nigerian Aviation Handling Company (NAHCO Aviance) Plc has boosted its earnings prospects after securing a series of renewed and fresh contracts with major local and international airlines, reinforcing its position as West Africa’s leading ground handling company.

The new agreements include contract renewals with leading European carriers Air France, KLM, and Virgin Atlantic, as well as African airline RwandAir. In addition, NAHCO signed fresh handling contracts with United Nigeria (Regional), Bellagio Air, and Malaikair.

The renewed contracts with Air France and KLM will run for three years, extending operations until 2028, while Virgin Atlantic’s agreement is also set for a three-year duration. RwandAir’s renewed contract takes effect from October 1, 2025, and will last for three years.

Meanwhile, NAHCO’s new agreement with United Nigeria (Regional) spans five years, effective August 1, 2025. Contracts signed with Bellagio Air and Malaikair will run for three and five years respectively.

Commenting on the development, Prince Saheed Lasisi, Group Executive Director, Commercial and Business Development at NAHCO Aviance Plc, said the company’s over 46 years of consistent service excellence has set it apart in the industry.

“This is what we have done for nearly half a century. We remain committed to exceeding customer expectations and delivering value to all stakeholders across every aspect of our service offerings,” Lasisi said.

Group Managing Director, Mr Olumuyiwa Olumekun, added that NAHCO’s deployment of a new fleet of modern ground handling equipment would further enhance service delivery across airports nationwide.

The contracts come at a time of strong financial performance for NAHCO. According to the company’s interim report for the nine-month period ended September 30, 2025, released on the Nigerian Exchange (NGX), the firm recorded double-digit growth across key financial indicators.

Earnings per share rose by 46.7 per cent to N6.91 in the third quarter of 2025, compared with N4.71 in the same period of 2024, highlighting strong capacity for sustained dividend growth. The company had earlier increased its dividend payout by 134 per cent for the 2024 financial year, distributing N11.58 billion in cash dividends, or N5.94 per share, compared with N4.95 billion paid in 2023.

Total revenue surged by 40.7 per cent to N47.76 billion in Q3 2025 from N33.95 billion in the previous year, driven largely by renewed and new airline contracts and expanded operations across subsidiaries.

Gross profit climbed 37.1 per cent to N28.43 billion, while operating profit increased by 40.8 per cent to N18.14 billion, indicating strong operational efficiency despite inflationary pressures.

Profit before tax grew by 46 per cent to N17.94 billion, with net profit rising to N13.46 billion, a 46.6 per cent increase year-on-year.

The company’s balance sheet also remained solid, with total assets increasing from N46.95 billion in December 2024 to N48.64 billion by September 2025, while shareholders’ funds rose to N21.92 billion from N20.04 billion over the same period.