NAS acquires 51% stake in Siginon Aviation

NAS acquires 51% stake in Siginon Aviation

The National Aviation Services, an aviation services provider in emerging markets, has expanded in Kenya with a 51 percent stake in Siginon Aviation, a subsidiary of the Siginon Group.

Commenting on the acquisition of Siginon Aviation, NAS Group CEO Hassan El-Houry said, that due to the coronavirus pandemic, the company’s cargo services came to the forefront by keeping crucial supply chains flowing uninterrupted. 

“A combination of NAS’s global presence and expertise in airport services with Siginon Aviation’s experience in Kenya will successfully strengthen the ground handling, ramp handling and cargo handling capabilities in the region, especially in East Africa,” said NAS CEO Hassan El-Houry.

According to the National Aviation Services Ksh.4.4 billion acquisition is in line with NAS’s expanded focus on the cargo business projecting to strengthen the ground handling, ramp handling and cargo handling capabilities in the region, especially in East Africa.

Siginon Group Managing Director Meshack Kipturgo said the partnership is a true reflection of the group’s mutual ambition to make a positive mark in service excellence, even as the National Aviation Services extends its footprint in Kenya.

He attributed this to  the ongoing vaccine requirements around the world, adding that the company handled almost a million doses of the COVID-19 vaccine at different African airports. 

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“With the ongoing vaccine requirements around the world… with this growing demand, we expanded our focus on cargo management in Africa and the partnership with Siginon Aviation is indeed timely,” said Kipturgo.

Since 2010, Siginon Aviation has been upgrading its ground handling capacity with several upgrades that included the relaunching of its operations in a state-of-the-art air cargo terminal and the acquisition of ramp equipment to boost its operations at the  Jomo Kenyatta International Airport  (JKIA).

Kenya is the latest market where the company is launching its operations, having established such activities in countries like South Africa, DRC, Guinea Bissau and Zambia.

It is said that Former President Moi owns Siginon Group together with his former Personal Assistant (PA) Joshua Kulei who has a 12 percent stake.

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