Middle East

Kuwait-based Agility Completes £763m Acquisition of Menzies Aviation

Agility, a supply chain services, infrastructure and innovation company headquartered in Kuwait, has completed the acquisition of UK-based John Menzies, combining this business with its National Aviation Services (NAS) business to create a global presence in 58 countries. provide air services in

When combined, the combined company will operate as Menzies Aviation and will be the world’s largest airline services company by number of countries and number two by number of airports served.

The combined company, which will operate as Menzies Aviation, will provide air cargo, fuel and ground services at airports on six continents.

Combined Menzies and NAS revenue will exceed $1.5 billion in 2021.

The new company will employ approximately 35,000 people, operate 254 airports in 58 countries, and handle 600,000 aircraft turns, 2 million tons of air cargo and 2.5 million refuelings annually.

“Menzies and NAS will create a world leader in aviation services,” said Hassan El-Awaly, formerly CEO of NAS, who will become chairman of the combined company.

“As the industry recovers from the COVID-19 pandemic, it will be able to expand in scale and resources and grow. As we grow, we need a partner we can trust.”

Its customers include Air Canada, Air China, Air France-KLM, American Airlines, British Airways, Cathay Pacific, easyJet, Emirates, Ethiopian Airlines, flydubai, Frontier Airlines, IAG, Jazeera, Qantas Group, Qatar. Airlines, Southwest Airlines, Turkish Airlines, United Airlines, WestJet, Wizz Air.

“The combination of Menzies and NAS enables our customers to receive world-class service, enhanced product offerings and best-in-class safety measures at airports on six continents. and provide innovative solutions to forward-thinking customers, giving us the resources to develop talent, technology and sustainability – key factors for our future success. It also means that we are well positioned to support our customers as they grapple with supply chain challenges and labor shortages.”

The boards of Agility and Menzies agreed on 30 March for Agility’s cash offer to acquire 100% of Menzies’ ordinary shares traded on the London Stock Exchange at 608 pence per share. The transaction values ​​Menzies at approximately £571 million on a fully diluted basis and approximately £763 million on an enterprise value basis.

https://gulfbusiness.com/kuwait-based-agility-completes-763m-acquisition-of-menzies-aviation/ Kuwait-based Agility Completes £763m Acquisition of Menzies Aviation

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