Kuwait Business: Agility creates new global aviation service powerhouse – Gulf Digital News

Kuwait Business: Agility creates new global aviation service powerhouse – Gulf Digital News

Agility, a supply chain services, infrastructure and innovation company, has finalised its acquisition of UK-based John Menzies and will combine the business with its National Aviation Services (NAS) unit to create a world leader in aviation services in 58 countries.

Once integrated, the combined company will operate as Menzies Aviation and will be the world’s largest aviation services company by number of countries and second largest by number of airports served, said an Agility statement.

The boards of Agility and Menzies reached agreement on March 30 on Agility’s cash offer to acquire 100% of Menzies ordinary shares, which traded on the London Stock Exchange, for 608 pence a share. The deal values Menzies at approximately £571 million ($689.96 million) on a fully diluted basis and approximately £763 million ($921.96 million) on an enterprise value basis, said the statement.

Menzies Aviation will provide air cargo services, fuel services and ground services at airports on six continents.

Combined revenues of Menzies and NAS exceeded $1.5 billion in 2021. The new company will have approximately 35,000 employees and operations at 254 airports in 58 countries, handling 600,000 aircraft turns, 2 million tonnes of air cargo and 2.5 million fuelling turns per year.

“Menzies and NAS will create the