Agility's unit wins concession at Baghdad International Airport

SectorFinancial Markets
CountryUnited Arab Emirates

Mubasher: National Aviation Services Co, a 95%-owned subsidiary of Agility Public Warehousing, has been awarded a nine-year concession to provide passenger-handling services at the Baghdad International Airport in Iraq. The concession does not have a confirmed value, according to the company's disclosure to the Dubai Financial Market (DFM) on Sunday. However, the concession has an estimated revenue of $2 million per year, which will be registered in the company's financial statements over the term of the contract. It is noteworthy to mention that in the first half (H1) of 2020, the company's net profits declined by 61.3% to KWD 16.21 million, compared to KWD 41.89 million in the same period of 2019. more...