KUWAIT's Agility has finalised its acquisition of UK-based John Menzies PLC and will combine its business with its National Aviation Services (NAS) business, reports London's Air Cargo News.
The boards of Agility and Menzies reached agreement on March 30 on Agility's cash offer to acquire 100 per cent of Menzies ordinary shares following a series of exchanges between the companies.
Once integrated, the combined company will operate as Menzies Aviation and will be the world's largest aviation services company by number of countries and second largest by number of airports served, said Agility.
Menzies Aviation will provide air cargo services, fuel services and ground services at airports on six continents. Combined revenues of Menzies and NAS exceeded US$1.5 billion in 2021.
The new company will have 35,000 employees and operations at 254 airports in 58 countries, handling 600,000 aircraft turns, two million tonnes of air cargo and 2.5 million fuelling turns per year.
'Menzies and NAS will create the world leader in aviation services,' said Hassan El-Houry, who becomes chairman of the combined company, having previously held the role of NAS chief executive.
'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, American 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.
SeaNews Turkey
The boards of Agility and Menzies reached agreement on March 30 on Agility's cash offer to acquire 100 per cent of Menzies ordinary shares following a series of exchanges between the companies.
Once integrated, the combined company will operate as Menzies Aviation and will be the world's largest aviation services company by number of countries and second largest by number of airports served, said Agility.
Menzies Aviation will provide air cargo services, fuel services and ground services at airports on six continents. Combined revenues of Menzies and NAS exceeded US$1.5 billion in 2021.
The new company will have 35,000 employees and operations at 254 airports in 58 countries, handling 600,000 aircraft turns, two million tonnes of air cargo and 2.5 million fuelling turns per year.
'Menzies and NAS will create the world leader in aviation services,' said Hassan El-Houry, who becomes chairman of the combined company, having previously held the role of NAS chief executive.
'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, American 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.
SeaNews Turkey
