UK-based John Menzies PLC has been acquired for £763 million by supply chain services, infrastructure and innovation company, Agility. The latter will combine the business with its National Aviation Services (NAS) company to create a world leader in aviation across 58 countries. In 2021 the combined revenues of Menzies and NAS exceeded $1.5 billion.
The combined company will operate as Menzies Aviation and will provide air cargo services, fuel services and ground services at airports spanning six continents. The new company will have approximately 35,000 employees and operations at 254 airports handling 600,000 aircraft turnarounds, 2 million tonnes of cargo and 2.5 million fuelling turns per year.
Having previously held the position of NAS CEO, Haassan El-Houry now becomes the Chair of the combined company. “Menzies and NAS will create the world leader in aviation services,” he said.
“We will have the scale and resources to expand and grow as the industry recovers from the COVID-19 pandemic. Commercial aviation is a key engine of global economic growth and our customers need partners they can count on as flight volumes return.”
The company’s customers will include Air Canada, Air China, Air France-KLM, America Airlines, British Airways, Cathay Pacific, easyJet, Emirates, Ethiopian, FlyDubai, Frontier Airlines, IAG, Jazeera, Qantas Group, Qatar Airways, Southwest, Turkish, United Airlines, WestJet and Wizz Air.
Menzies Aviation CEO, Philipp Joeinig, who will be the CEO of the combined company commented: “Agility’s backing gives us the resources to provide innovative solutions for growing and forward-thinking customers, and to develop our talent, technology and sustainability; critical factors for our future success. It also means we are well positioned to support our customers in tackling supply chain challenges and labour shortages.”
Meanwhile, Agility Vice Chairman, Tarek Sultan described this as a new chapter for Agility, Menzies and NAS. “By acquiring Menzies and combining it with NAS, Agility has the opportunity to unlock greater value in both. Agility has a strong track record of sustainable and responsible growth over the last two decades, driven both organically and through mergers and acquisitions, and this latest deal is part of our strategy to further accelerate that growth. For Agility this deal creates the largest owned and operated – “controlled” – business in Agility’s portfolio by revenue, headcount and global presence. We’re looking forward to seeing the new Menzies soar with Agility’s backing.”