Ghana Airports Company Ltd generates over GH¢180,000 revenue in 2014
Following government’s policy to cede the additional 60% of the Airport Passenger Service (APSC) Tax to the Ghana Airports Company Ltd (GACL), the company realised a significant growth in revenue for the year 2014.
“The year 2014 was therefore the first full operational year, in which the GACL received the full APSC revenue,” Mr. Charles Asare, Managing Director of the GACL, said this at the Third Annual General Meeting of the GACL, held on Tuesday in Accra.
The GACL achieved a total comprehensive income of GH¢184,087 for the year 2014, as against GH¢20,118 for the year 2013.
He said in line with the GACL’s strategy of ensuring sustained funding for capital projects, the company developed an internal policy to devote 70 percent of the airport tax collected to fund the airport infrastructure and development projects.
“Additionally, as part of GACL’s capital investment programme, we have obtained funding for the construction of a new terminal at the Kotoka International Airport (KIA), and the rehabilitation of other airports in the country including the Kumasi, Tamale and Ho airports,” Mr. Asare said.
Touching on the company’s human resource and training, Mr. Asare said the relationship between Management and staff throughout the year had been cordial and constructive.
“In line with its policy to grow the technical and management competencies required for the effective management of our airports, key staff training programmes were undertaken in 2014 including a crisis and disaster management course, an aircraft recovery programme, an Airport Management Professional Accreditation Programme among others,” he said.
A customer service excellence programme to enhance customer service, recurrent training throughout the year for staff of the Aviation Security Department, as well as the Rescue and Fire Fighting Services, and the commencement of a programme to rehabilitate staff bungalows in the respective regions, are some of the initiatives that were undertaken by the GACL for the year in review, Mr. Asare said.
He observed that the GACL made tremendous strides in the resolution of issues relating to airport lands, following the intervention of the company’s Board, as well as the government saying, “this would without doubt help to curb the encroachment on airport lands and enhance safety and security, as well as the potential for future expansion at our airports.”
Touching on challenges, the GACL boss said “the management of airports is without doubt, a very capital intensive undertaking. The GACL, as part of its mandate, is in the process of implementing significant expansion projects at the various airports.”
He continued, “the GACL is required to make provision to pay all taxes, estimated at GH¢340 million, related to the projects to be financed over the next 2 years.”
Mr. Asare said “while acknowledging the efforts of our supervising ministry and Board to address the issue of tax exemption on our projects, we respectfully crave the indulgence of all stake-holders to address them.
He touched on the strategic direction of the GACL and said the company would increase and improve the operating efficiencies of all airports in the country by upgrading and expanding the airport infrastructure and service facilities, and also develop new regional aerodromes.
“We also intend to commence the construction of new airports at Ho, and upgrade the Wa airstrip to facilitate commercial operations,” said Mr. Asare.
He said the GACL would continue to grow non-aeronautical revenues, and increase its percentage contribution of total revenue to 30 percent within the next five years.
He said the GACL was being reformed to be more commercially-oriented and customer focused.
“It is expected that upon completion, our organizational systems, work systems, work practices and procedures will be fully aligned to support the future strategic direction,” said Mr. Asare.
The guest of honor for the occasion was His Ecxellency President John Dramani Mahama.
Also in attendance were Mrs Dzifa Attivor, the Minister of Transport, her Deputy, Mrs Joyce Mogtari and representatives of her ministry, representatives from the State Enterprises Commission, representatives from the Ghana Civil Aviation Authority, and representatives from the Ministry of Finance.
Source: GNA