Aviation News International – Menzies Aviation, a subsidiary of Kuwait’s logistics major, Agility, and a prominent service partner to numerous airports and airlines worldwide, has acquired a 50% stake in Jardin Aviation Services Group (JASG) from Jardine Matheson, a diversified Asia-focused conglomerate.
The acquisition aims to support the rebound in Hong Kong’s aviation industry and strengthen the company’s presence in Asia.
Joint venture
This strategic move marks a joint venture (JV) between China National Aviation Corporation (CNAC) and Menzies Aviation.
Ground handling services specialist JASG has been operating at Hong Kong International Airport (HKG) since 1946 and has been a key contributor to Hong Kong’s growth as a global aviation hub.
Following the completion of the acquisition, Jardine Airport Services Limited will be rebranded as Menzies CNAC Aviation Services Limited.
According to the company, the new JV further strengthens its existing partnership with CNAC at Macau International Airport (MFM), where it has been providing ground-handling services since 1994.
Additionally, Menzies Aviation operates at three airports in Indonesia and has recently launched its operations in Malaysia.
“The integration enables us to broaden our footprint in Hong Kong, the Greater Bay Area and China as we build a collaborative relationship with CNAC, fostering mutual growth and success,” Menzies Aviation Chairman, Hassan El Houry said.
“Together, we will provide unparalleled aviation services to our customers, ensuring our continued commitment to safety, security and excellence,” he added.
The ownership transfer has been agreed upon by CNAC, which will remain a co-owner alongside Menzies Aviation.
The completion of the transaction, currently pending regulatory approval, is anticipated to be completed in the coming months.
Menzies Aviation provides services at over 255 airports globally, serving more than four million flights annually and handling two million tonnes of cargo.
The company’s service offering encompasses ground handling, air cargo services involving handling, warehousing, and wholesale freight forwarding, as well as fuel services, including fuel farm management and aircraft fuelling.
Source: https://www.theaviatorme.com/news/menzies-aviation-acquisition-jasg
