Cargo handling business records boom in Q1 2021, firms make N2.63 billion

Aviation handlings firms made N2.63 billion from cargos handling against N2.53 billion recorded in same period in 2020.

Cargo handling businesses recorded a boom in the first quarter of 2021, as aviation handling companies made N2.63 billion (import and export) against N2.53 billion recorded in the same period in 2020.

This was extracted from the Q1 2021 financials of Nigerian Aviation Handling Company Plc and Skyway Aviation Handling Company Plc (major Aviation handling firms in Nigeria).

For instance, SAHCO, the Aviation handling firm, made N1.44 billion from its cargo handling services, up from the N1.32 billion recorded in Q1 2020.

Cargo handling in SAHCO Plc also includes income from cargo documentation services rendered to airlines, which include import and export cargo facilitation through Nigeria’s biggest network of customers, bonded warehouses in Lagos, Kano, Abuja, and Port-Harcourt.

In the case of NAHCO Aviance Plc, it made N1.19 billion from import and export cargo handling within the first three months of 2021. This is against the N1.22 billion recorded in the same period in 2020.

Cargo handling includes invoices raised for cargo documentation services for airlines, import, and export.

What led to the cargo revenue growth?

While commercial airlines are still struggling to come out of the woods after they recorded losses from their passenger businesses in 2020, cargo handling companies were able to avoid a similar fate.

The cargo aspect of their revenues has witnessed an increase over the years, as airlines continued lifting goods, especially essential items such as medical supplies, and personal protective equipment (PPE) during the pandemic.

 

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