Global aviation services specialist, Menzies Aviation, has acquired a 51% shareholding in Royal Airport Services (RAS), an aviation services business based in Pakistan.
Commenting on the acquisition, Philipp Joeinig, Executive Chairman of Menzies said: “We are delighted to be partnered with Royal Airport Services, the leading aviation services company in Pakistan. The acquisition is in line with our global strategy to offer our service portfolio to new markets and we believe that a presence in Pakistan will provide a strong platform for further regional growth opportunities.”
RAS has been operating since 2007 and has a strong position in its local markets, providing a range of aviation services including ground and cargo handling, airline ticketing and cargo sales across Pakistan. The group works across eight airports, including Islamabad, Karachi, Lahore, Peshawar, Multan, Faisalabad, Quetta and Rahim Yar Khan, handling both domestic and international carriers with revenue in excess of US$20 million in 2019.
The deal will enable Menzies Aviation to enter the growing Pakistan aviation services market. “Together, as a Joint Venture, we will strive to improve aviation safety and security at the eight airports in Pakistan and foster further growth in the passenger and cargo sectors of this market, which in turn will further develop the Pakistan travel and tourism market. RAS has demonstrated the ability to grow successfully and with Menzies Aviation’s additional scale and global reach, there is clear potential to generate further opportunities in the region.”
Meanwhile, Shujaat Azeem, Chairman of RAS added his delight at the selection at the collaboration which he believes will strengthen RAS’ business. “Menzies/ RAS Pakistan will provide the best in class international operating standards to the eight airports in which we operate at in Pakistan. This will enhance the passenger experience, improve air cargo connectivity and support tourism growth in the country.”
