Agility World subsidiary Menzies’ income jumps 10.7% Al Khaleej Newspaper

Dubai: “The Gulf”

Menzies Aviation, a subsidiary of Agility World, one of many world’s main airport and aviation companies corporations, introduced that its income has grown for the third yr in a row. the sequence within the highest numbers, with the frequency of flights approaching a return to what it’s. they have been earlier than the Corona pandemic.

In its particular annual report for 2023, the corporate introduced its sturdy monetary efficiency, as world income rose to $2.2 billion, a rise of 10.7% in comparison with the earlier yr. The group additionally achieved earnings earlier than curiosity, taxes, depreciation and amortization of $318 million (after IFRS 16), representing a margin of 15%.

This progress comes on the again of the corporate’s world growth and new strategic partnerships in Serbia, Jamaica, India and Bulgaria, which have helped drive regional progress.

Within the yr 2023, the corporate offered its companies for greater than 4.5 million journeys (in comparison with 4.1 million journeys in 2022), a rise of 9.7%, and this included greater than 217 million individuals -travel, by way of airways, (in comparison with 183 million passengers). in 2022). It dealt with two million tons of cargo (in comparison with 1.8 million tons in 2022), and hosted greater than 1.8 million passengers in Pearl’s halls, which has 36 halls worldwide (in comparison with to 660,000 passengers in 2022), ie a rise of 173. %.

The corporate has exceeded the business common in its operational security efficiency in 2023, underlining its dedication to delivering best-in-class security practices in aviation companies. Their plane injury price was six instances decrease than the business common reported by the Worldwide Air Transport Affiliation (IATA), with an accident price of simply 0.41 per 10,000 cycles, in comparison with a median of 6.2.

Hassan Al-Houri, Government Chairman of Menzies, stated: “We’re dedicated to supporting the worldwide financial system and offering built-in aviation companies, all because of the efforts and arduous work of 45,000 workers who’re dedicated to by way of our imaginative and prescient and mission. We are going to proceed to position security, high quality and safety as our priorities, to keep up our management position on this sector.”

Philippe Goenig, CEO of Menzies Group, stated: “Our sturdy monetary efficiency in 2023 represents the end result of three consecutive years of report progress. “We’re outperforming the business common in security, and we’re main the way in which in shifting to electrical tools.”