Dubai-listed Agility's subsidiary secures $2mln annual revenues in Iraq airport concession

Contract involves provision of passenger-handling services at Baghdad International Airport

  
An Iraqi Airways plane lands at Baghdad International airport January 27. Image for illustrative purposes.

An Iraqi Airways plane lands at Baghdad International airport January 27. Image for illustrative purposes.

REUTERS/Thaier Al-Sudani

Dubai-listed Agility Public Warehousing Company’s subsidiary has won a nine-year concession at the Baghdad International Airport in Iraq.

The project, secured by National Aviation Services Co. (NAS), is estimated to generate $18 million in revenues.

It will involve the provision of passenger-handling services at Baghdad’s global aviation hub, the Kuwait-based company said in a filing at the Dubai Financial Market (DFM) on Sunday.

“Due to the current global pandemic, there is no confirmed value for the concession. However, estimated revenue of the concession is $2 million per year,” the firm said.

The revenues will be reflected on the company’s financials over the term of the contract.

In July, the Baghdad airport reopened for commercial flights after months of shutdown due to the coronavirus pandemic.

Agility and its subsidiaries provide logistics solutions, including freight forwarding, transportation, contract logistics and aircraft ground handling, among many others.

(Reporting by Cleofe Maceda; editing by Seban Scaria)

Cleofe.maceda@refinitiv.com 

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© ZAWYA 2020

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