Agility completes acquisition of Menzies for 763
  • Hassan Houry: We will have the necessary resources to expand and grow in conjunction with the sector’s recovery from “Corona”
  • Philip Going: Our customers will get world-class services..and more diversified product offerings
  • Tariq Sultan: Agility has a proven track record of sustainable and responsible growth over the past two decades

Agility has announced that it has completed the acquisition of UK-based John Menzies plc. Agility will combine Menzies’ operations with those of National Aviation Services Company (NAS) to create a world-leading aviation services company operating in 58 countries.

Once the two companies are merged, the new company will begin operations as Menzies Aviation and will become the world’s largest aviation services provider by number of countries and the second largest by number of airports it serves. It is worth noting that the new company – Menzies Aviation – will provide air freight, fuel services and ground services at airports across six continents, knowing that the combined revenues of Menzies and Nass have exceeded $1.5 billion in 2021.

The company will employ approximately 35,000 employees, and its operations will extend to 254 airports in 58 countries, and annually it will handle 600,000 flights, 2 million tons of air freight and 2.5 million tons of aircraft fuel.

A world leading company

On this occasion, Hassan Al-Houri, Chairman of the Board of Directors of the merged company and former CEO of NAS, said: “Minzies and NAS will form a world leader in aviation services. We will have the size and resources needed to achieve expansion and growth as the sector recovers from the Covid-19 pandemic, as commercial aviation is a major driver of the growth of the global economy, and our customers really need partners they can rely on as flight volumes increase again.”

The company’s clients will include: Air Canada, Air China, Air France, KLM Royal Dutch, American Airlines, British Airways, Cathay Pacific, EasyJet, Emirates Airlines, Ethiopian Airlines, Fly Dubai, Frontier Airlines, IAG, Jazeera Airways, Qantas Group, Qatar Airways, Southwest, Turkish Airlines, United Airlines, WestJet and Wizz Air.

More Diversified Services

Menzies Aviation CEO, Philip Going, who will be CEO of the combined company, said: “As a result of combining Menzies and NAS, our customers will gain world-class service, more diversified product offerings and safety best practices at airports across six continents. Agility’s support will give us the resources to provide innovative solutions to our growing customers who are considering enhancing their future growth, as well as developing our capabilities, technologies and level of sustainability, which are essential for future success. It also means that we are well positioned to support our customers in the face of supply chain challenges and labor shortages.”

New chapter for “Agility”

Agility Vice Chairman Tariq Sultan said: “This transaction marks a new chapter for Agility. By acquiring Menzies and acquiring Nass Corporation, Agility will have the opportunity to maximize the value of both. Agility has a proven track record of sustainable and responsible growth over the past two decades, driven by growth from its existing operations as well as growth through its mergers and acquisitions, and this transaction is part of our strategy to accelerate such growth. For Agility, this transaction will create the largest owned and operated company of the Agility controlled entities in terms of revenue, number of employees and global presence. We look forward to seeing the new Menzies company achieve success with our support.” The boards of Agility and Menzys reached an agreement on March 30 of this year regarding Agility’s cash offer to acquire 100% of Menzies’ shares, which are traded on the London Stock Exchange, for 608p per share. The deal values ​​Menzies at approximately £571 million based on fully diluted earnings per share and about £763 million based on company value.

By Editor