Tuesday, November 5, 2024

MENZIES AVIATION COMPLETES GROUNDFORCE PORTUGAL DEAL

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Menzies Aviation, a leading service partner to the world’s airports and airlines, has completed the acquisition of a 50.1% stake in Groundforce Portugal.

Groundforce Portugal manages over 100,000 aircraft turns annually across five of Portugal’s busiest airports, providing ground and air cargo services to several leading global airlines. With this acquisition, Menzies secures a 65% market share in Portugal.

This transaction, finalized more than 12 months after the agreement was first announced in March 2023, marks a significant milestone in the recovery and revitalization of Groundforce Portugal, with a positive impact on the national economy. It reaffirms Menzies’ commitment to enhancing handling capacity across Portugal’s aviation network in partnership with TAP, which retains a 49.9% stake in the business.

Groundforce Portugal will be rebranded as Menzies Aviation, integrating into the world’s largest aviation services company, which employs 45,000 people and operates at over 290 locations in more than 65 countries across six continents. Menzies will welcome over 4,000 employees working across five airports: Humberto Delgado Airport (LIS) in Lisbon, Francisco Sá Carneiro Airport (OPO) in Porto, Gago Coutinho Airport (FAO) in Faro, Cristiano Ronaldo International Airport (FNC) in Madeira, and Porto Santo Airport (PXO) on Porto Santo Island.

In collaboration with TAP, Menzies Aviation will invest in advanced technology, underscoring its dedication to elevating standards, enhancing efficiency, and ensuring sustained growth. This strategic move will also support staff development as the company expands its presence in Southern Europe.

Hassan El-Houry, Executive Chairman of Menzies Aviation, stated: “Today’s announcement culminates a year-long process to transfer ownership and progress the revitalization of the Portuguese aviation sector. We are committed to our strategic investment in the region, paving the way for a future where innovation and excellence take center stage. This milestone opens a new chapter for Menzies in Portugal and the Southern European region, and we look forward to working together to deliver high-quality services across the country’s aviation network.”

Philipp Joeinig, Group CEO of Menzies Aviation, added: “We are delighted to embark on an exciting venture in Portugal, working with TAP Portugal and our new employees to deliver unmatched aviation services, upholding our commitment to safety, security, and excellence. The integration of Groundforce Portugal employees into Menzies is eagerly anticipated, as their expertise will be invaluable in fostering the growth and expansion of Portugal’s aviation sector.”

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