Menzies Aviation
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Aviation |
| Founded | 1833 |
| Founder | John Menzies |
| Headquarters | Edinburgh, Scotland , United Kingdom |
Key people | Philipp Joeinig (Chairman & CEO)[1] |
| Services | Aircraft ground handling Air cargo |
| Revenue |  US$1,352.5 million (2021)[2] |
| US$75.8 million (2021)[2] | |
| US$29.9 million (2021)[2] | |
| Parent | Agility Logistics |
| Website | menziesaviation |
John Menzies Ltd. is an aviation services business providing aircraft ground handling services, through its subsidiary Menzies Aviation Ltd. The company also provides air cargo services through its subsidiary Air Menzies International. The company is based in Edinburgh, Scotland, United Kingdom.
On 4 August 2022, Agility Logistics acquired the company and announced that it would begin to integrate its operations with its National Aviation Services subsidiary, and rebrand the combined business as Menzies Aviation.[3][4]
History
[edit]
The company was founded by a bookseller, John Menzies, with his first shop in Princes Street, Edinburgh, in 1833.[5][a] In 1941, the company's branch in Greenock was destroyed in the Greenock Blitz.[8]
Menzies bookshops and newsagents spread across the United Kingdom, often located at railway stations. The company acquired other operators such as Wyman & Sons in 1959.[9]
In January 1998, the company closed its principal branch in Edinburgh, although the head office continued to occupy the building.[10] The whole retail operation was sold to WHSmith in May 1998, to enable Menzies to concentrate on its distribution business.[11]
In January 2007, the company merged its newspaper and magazine wholesale distribution businesses in Northern Ireland into a joint venture with Eason & Son, which became known as EM News Distribution; the company acquired the 50% it did not own in May 2017.[12]
On 31 January 2017, Menzies Aviation completed the acquisition of specialist aircraft fueller Aircraft Services International (ASIG) from BBA Aviation for US$202m.[13] After a planned merger between the Menzies Distribution and the DX Group collapsed in August 2017, the company announced, in July 2018, that it had sold the distribution division to private equity company Endless, with the former owner retaining a 10% share in the business.[14]
On 27 March 2020, the company confirmed it had been badly affected by the COVID-19 pandemic and reduced its headcount by over 17,500.[15] The number of flights Menzies handled globally fell by 60% during the second quarter 2020.[16]
In April 2022, Menzies Aviation acquired Santiago-based ground and air cargo handling services company, Agunsa Aviation Services.[17]
In August 2022, Agility Logistics acquired the company for £571 million stating it intended to merge its operations with its National Aviation Services subsidiary.[18][19][20]
In February 2023, it was announced Menzies Aviation had acquired a majority stake in the Jamaican ground and cargo handling company, AJAS Limited.[21]
Notes
[edit]- ^ Menzies died at his townhouse, 3 Grosvenor Crescent in Edinburgh's West End,[6] and was buried in Warriston Cemetery, on the north side of the city.[7]
References
[edit]- ^ "Main Board". John Menzies. Retrieved 24 February 2022.
- ^ a b c "Annual Report 2021" (PDF). John Menzies. Retrieved 29 July 2022.
- ^ "Agility Completes £763 Million Acquisition of Menzies Aviation". PR Newswire. Retrieved 30 December 2022.
- ^ "Menzies Aviation and NAS have joined forces". Menzies Aviation. Retrieved 30 December 2022.
- ^ "John Menzies: From the high street to the skies". BBC News. 22 February 2022. Retrieved 24 February 2022.
- ^ Edinburgh and Leith Post Office Directory 1875-6
- ^ "Warriston Cemetery". Gazetteer for Scotland. Retrieved 24 February 2022.
- ^ "John Menzies plc – Our History". www.johnmenziesplc.com. Retrieved 24 February 2022.
- ^ "Railway station bookstalls". Culham Ticket Office. Retrieved 21 January 2023.
- ^ "John Menzies to close flagship store". The Independent. 12 January 1998. Archived from the original on 13 June 2022. Retrieved 24 February 2022.
- ^ "Menzies sells shops to WH Smith in GBP 64m deal". Scotland on Sunday. 8 March 1998. Archived from the original on 29 June 2014. Retrieved 24 February 2022.
- ^ "Menzies pays €3.6m for Eason's half of joint venture". Irish Independent. 31 May 2017. Retrieved 24 February 2022.
- ^ "John Menzies buys plane refuelling firm". BBC News. 16 September 2016.
- ^ "John Menzies sells distribution business". BBC News. 26 July 2018. Retrieved 24 February 2022.
- ^ "John Menzies lays off 55% of staff as coronavirus hits air travel". Reuters. 27 March 2020. Retrieved 24 February 2022.
- ^ "John Menzies soars on better trading and strong liquidity". Shares Magazine. 22 June 2020. Retrieved 24 February 2022.
- ^ "Menzies acquires Chile's Agunsa". Airports International. Retrieved 29 April 2022.
- ^ "Menzies Aviation accepts £571m takeover by Kuwaiti rival". BBC News. 30 March 2022. Retrieved 6 June 2022.
- ^ "Kuwait's Agility Unit Tristar sign M&A deals for $965 million". The Capital Quest. 1 April 2022. Retrieved 29 July 2022.
- ^ "Edinburgh's Menzies Aviation opens 'new chapter' after takeover by Kuwaiti firm completes". The Scotsman. 4 August 2022. Retrieved 31 December 2022.
- ^ "Menzies to acquire majority stake in AJAS Limited". magazine.groundhandling.com. Retrieved 3 February 2023.