PR Newswire
04 Aug 2022, 17:40 GMT+10
Deal creates the world's largest aviation services provider
KUWAIT CITY, Aug 4, 2022 /PRNewswire/ -- Agility, a supply chain services, infrastructure and innovation company, announced that it has finalized its acquisition of UK-based John Menzies PLC and will combine the business with its National Aviation Services (NAS) business to create a world leader in aviation services in 58 countries.
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.
Operating as Menzies Aviation, the combined company will provide air cargo services, fuel services and ground services at airports on six continents. Combined revenues of Menzies and NAS exceeded $1.5 billion in 2021. The new company will have approximately 35,000 employees and operations at 254 airports in 58 countries, handling 600k aircraft turns, 2 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 CEO.
"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.
"With the combination of Menzies and NAS, our customers will receive world-class service, expanded product offerings, and the industry's best safety practices at airports on six continents," said Menzies Aviation CEO Philipp Joeinig, who will be CEO of the combined company. "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 labor shortages."
Agility Vice Chairman Tarek Sultan said, "This is 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."
The boards of Agility and Menzies reached agreement March 30 on Agility's cash offer to acquire 100% of Menzies ordinary shares, which traded on the London Stock Exchange, for 608 pence a share. The deal values Menzies at approximately Pound 571 million on a fully diluted basis and approximately Pound 763 million on an enterprise value basis.
About Agility
Agility is a global leader in supply chain services, infrastructure and innovation. It is a pioneer in emerging markets. Agility is a multi-business operator, with companies that include a logistics parks business that is one of the largest private owners of warehousing and industrial real estate in the Middle East and Africa, an aviation services company, a liquid fuel logistics business, and companies that offer customs digitization, remote infrastructure services, ecommerce enablement and digital logistics, and commercial real estate and facilities management. Agility is also an investor in innovation, sustainability and resilience, with a growing portfolio of listed and non-listed investment partners looking to reshape their respective industries across a range of sectors.
For more information about Agility, visit:
Website: www.agility.com
Twitter: twitter.com/agility
LinkedIn: linkedin.com/company/agility
YouTube: youtube.com/user/agilitycorp
About Menzies Aviation
Menzies Aviation has been evolving since 1833 to become one of the worlds' largest aviation services companies with operations on six continents. It provides time critical ground services, fuel services and air cargo services at more than 210 airports in 41 countries, supported by a team of 31,000 highly trained people. Best in class safety and security is the number one priority every day. Customers include Air Canada, Air China, Air France-KLM, American Airlines, Cathay Pacific, easyJet, Frontier Airlines, IAG, Qantas Group, Qatar Airways, Southwest, United Airlines, WestJet and Wizz Air.
For more information about Menzies Aviation, visit:
Website: www.menziesaviation.com
LinkedIn: linkedin.com/company/menzies-aviation
Facebook: facebook.com/menziesaviationglobal
Instagram: instagram.com/menziesaviationglobal
About National Aviation Services (NAS)
Founded in 2003, National Aviation Services is a Kuwait-based aviation services company that leads in the emerging markets of the Middle East, Africa, and South Asia. One of the fastest-growing aviation services companies in emerging markets, NAS is owned and backed by Agility.
SOURCE Agility
Get a daily dose of Vietnam Tribune news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Vietnam Tribune.
More InformationWASHINGTON, D.C.: President Donald Trump says the United States could soon reach a trade deal with India. He believes this deal would...
Russias foreign minister has called for the reform of global financial institutions and the more equitable distribution of aid Russian...
Bulawayo [Zimbabwe], July 8 (ANI): Zimbabwe's right-arm seamer Kundai Matigimu was fined 15 per cent of his match fees as he breached...
Turbat [Pakistan], July 8 (ANI): The Baloch Yakjehti Committee (BYC) has strongly condemned the arrest of Gulzar Dost, a prominent...
New Delhi [India], July 8 (ANI): The National Rifle Association of India (NRAI), has revealed the India squads for upcoming international...
New Delhi [India], July 8 (ANI): Congress leader and member of Rajya Sabha, Jairam Ramesh, on Tuesday slammed Prime Minister Narendra...
CULVER CITY, California: TikTok is preparing to roll out a separate version of its app for U.S. users, as efforts to secure a sale...
WASHINGTON, D.C.: President Donald Trump claimed he was unaware that the term shylock is regarded as antisemitic when he used it in...
PARIS, France: A strike by French air traffic controllers demanding improved working conditions caused significant disruptions during...
OMAHA, Nebraska: With Congress considering cuts totaling around US$1 trillion to Medicaid over the next decade, concerns are rising...
ROME, Italy: Quick thinking by emergency responders helped prevent greater devastation after a gas station explosion in southeastern...
WASHINGTON, D.C.: President Donald Trump is drawing praise from his core supporters after halting key arms shipments to Ukraine, a...