Kuwait’s Agility has finalised the acquisition of UK-based John Menzies, effectively creating one of the biggest aviation services provider in the world.
The Kuwaiti company bought the firm for £763 million ($930 million), and the deal will combine John Menzies with Agility’s National Aviation Services – operating in a total of 58 countries.
The new company will have around 35,000 employees, and will service 254 airports globally, handling 600k aircraft turns, 2 million tonnes of air cargo and 2.5 million fuelling turns per year. In 2021, combined revenues of Menzies and NAS was over $1.5 billion.
“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,” Hassan El-Houry, the chairman of the new company, said in a statement.
The boards of Agility and Menzies agreed on the Kuwaiti firm’s cash offer to acquire 100 percent of Menzies ordinary shares in March this year, for 608 pence per share.
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