Kuwait Agility unit wins contracts worth up to $1bln from Spanish airport regulator

Kuwait Agility unit wins contracts worth up to $1bln from Spanish airport regulator

Kuwait-based global logistics and warehouse provider Agility said its wholly-owned indirect subsidiary, Menzies Aviation (Iberica) has been awarded seven ground handling licenses by the Spanish Airport Authority, estimated to be worth up to 1 billion euros ($1.05 billion) in additional revenue.

Menzies has won the licenses for Barcelona, Palma, Mallorca, Malaga, Alicante, Gran Canaria, Tenerife Sur and Tenerife Norte airports, Agility said in a statement on Kuwait bourse where its stock is cross-listed.

The financial impact from the additional revenues will be reflected in Agility's financial statements over the duration of the contracts, it added.

(Writing by Brinda Darasha; editing by Daniel Luiz)

[email protected]

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2023