Menzies, a subsidiary of Agility World, acquires 50.1% of Groundforce | Al Khaleej Newspaper

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Menzies Aviation, a service accomplice for airports and airways worldwide and considered one of Agility World, introduced the enlargement into Southern Europe by finishing the profitable acquisition of a 50.1% stake in Groundforce Portugal, an aviation providers firm.
Groundforce operates over 100,000 flights per yr at 5 of Portugal’s busiest airports, offering floor and air cargo providers to many worldwide airways. On account of the completion of this settlement, which was introduced in March 2023, Menezes has obtained 65% of the market share in Portugal.
The profitable completion of this settlement represents a milestone within the revival of Groundforce Floor Dealing with, which may have a optimistic and promising impression on the nationwide financial system in Portugal. It additionally reaffirms Menzies’ dedication to growing dealing with providers throughout the airline networks in Portugal, in partnership with TAP Portugal, which has a 49.9% stake in GroundForce Portugal.
Groundforce Portugal is predicted to vary its model to Menzies Aviation, to turn out to be a part of the biggest aviation providers firm on the planet, which has 50,000 staff, and whose work is unfold in additional than 290 areas in over 65 international locations unfold throughout six continents. Menzies additionally welcomes greater than 4,000 staff to its workforce, working at 5 airports in Portugal.
Hassan Al-Houri, Govt Chairman of Menzies, stated: “At the moment’s announcement is the fruits of the success of a year-long deal to switch possession and launch the method of revitalizing the aviation sector in Portugal. We’re dedicated to our strategic investments within the sector, paving the best way to a future the place innovation and excellence are on the forefront.”
Philippe Goenig, CEO of Menzies, stated: “We’re beginning a brand new enlargement course of in Portugal, in partnership with TAP Portugal, and collectively we’ll proceed to supply prestigious aviation providers, in line with the requirements of high quality, safety and most security. “