BY PETER EGWUATU

THE Nigerian Aviation Handling Company Plc (NAHCO Aviance) has explained that its second half financials looks promising, giving the expected returns from its investment.

The Management of NAHCO Aviance stated that it is thrilled by the investments in its warehouse which have capacity for cargo regional hub, and is poised to translate them into improved performance and higher returns as the industry moves into high activity season in the second half of the year.

NAHCO , in a statement, said, “ The company’s subsidiary, Nahco Energy and Power Ltd has been prequalified for the privatization of the country’s Power sector, while the Nahco FTZ Nigeria Ltd is expected to stimulate economic activities at the nation’s airports.

The company also disclosed that it has mapped out strategies for growing its income base in the next half year after a plunge in its profit occasioned by operational disruptions in the first part of the fiscal year.

Management of the company said, “Though, the first quarter of the year is usually the lowest season in the Aviation industry, the company lost about 30 days to strikes in its Cargo Operations due to disagreements between licensed cargo agents and Customs Service as well as with the Federal Airports Authority of Nigeria.

“Parts of the Cargo Section, which is the company’s revenue basket, were also shut down early in the year to accommodate the construction of the new warehouse.”

Commenting further, the company said, “In the last two years, there have been massive investments in facilities and equipment. So far, $40 million has been spent on the company’s ultramodern warehouse and fleets of Ground Support Equipment totaling 325. The company also responded to the heightened security challenge by investing in bomb/explosive detection machines and CCTV surveillance system.”