Ground Services

Lufthansa sells stake in NAHCO

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The Lufthansa Group has reportedly sold its six per cent stake in Nigerian ground handling company NAHCO.

Air Transport World reports that the Lagos-headquartered handler revealed in a 7 January statement to the Nigerian Stock Exchange that the German aviation group sold 97.5 million shares to Godsmart Nigeria Ltd and no financial details of the deal were disclosed.

Godsmart was already a NAHCO shareholder and this purchase takes its stake in the ground handler to 26.95 per cent, making it the largest single investor.

NAHCO provides aircraft handling services at nine airports across Nigeria and is looking expand into other African countries. It serves more than 35 airlines and handles about 70 per cent of domestic and foreign airlines operating in Nigeria.