PR97344

KUWAIT CITY, Aug 4, 2022 /PRNewswire=KYODO JBN/ --

Deal creates the world's largest aviation services provider

Agility[https://www.agility.com/en/], a supply chain services, infrastructure

and innovation company, announced that it has finalized its acquisition of

UK-based John Menzies PLC[https://menziesaviation.com/] and will combine the

business with its National Aviation Services (NAS)[https://nas.aero/Home.aspx]

business 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.

Operating as Menzies Aviation, the combined company 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 600k aircraft turns, 2 million tonnes of air cargo

and 2.5 million fuelling turns per year.

"Menzies and NAS will create the world leader in aviation services," said

Hassan El-Houry, who becomes Chairman of the combined company, having

previously held the role of NAS CEO.

"We will have the scale and resources to expand and grow as the industry

recovers from the COVID-19 pandemic. Commercial aviation is a key engine of

global economic growth, and our customers need partners they can count on as

flight volumes return."

The company's customers will include Air Canada, Air China, Air France-KLM,

America Airlines, British Airways, Cathay Pacific, EasyJet, Emirates,

Ethiopian, FlyDubai, Frontier Airlines, IAG, Jazeera, Qantas Group, Qatar

Airways, Southwest, Turkish, United Airlines, WestJet and Wizz Air.

"With the combination of Menzies and NAS, our customers will receive

world-class service, expanded product offerings, and the industry's best safety

practices at airports on six continents," said Menzies Aviation CEO Philipp

Joeinig, who will be CEO of the combined company. "Agility's backing gives us

the resources to provide innovative solutions for growing and forward-thinking

customers, and to develop our talent, technology, and sustainability; critical

factors for our future success. It also means we are well-positioned to support

our customers in tackling supply chain challenges and labor shortages."

Agility Vice Chairman Tarek Sultan said, "This is a new chapter for Agility,

Menzies, and NAS. By acquiring Menzies and combining it with NAS, Agility has

the opportunity to unlock greater value in both. Agility has a strong track

record of sustainable and responsible growth over the last two decades, driven

both organically and through mergers and acquisitions, and this latest deal is

part of our strategy to further accelerate that growth. For Agility, this deal

creates the largest owned and operated – "controlled" - business in Agility's

portfolio by revenue, headcount, and global presence. We're looking forward to

seeing the new Menzies soar with Agility's backing."

The boards of Agility and Menzies reached agreement 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 on a fully diluted basis and approximately £763 million on an

enterprise value basis.

About Agility

Agility is a global leader in supply chain services, infrastructure and

innovation. It is a pioneer in emerging markets. Agility is a multi-business

operator, with companies that include a logistics parks business that is one of

the largest private owners of warehousing and industrial real estate in the

Middle East and Africa, an aviation services company, a liquid fuel logistics

business, and companies that offer customs digitization, remote infrastructure

services, ecommerce enablement and digital logistics, and commercial real

estate and facilities management. Agility is also an investor in innovation,

sustainability and resilience, with a growing portfolio of listed and

non-listed investment partners looking to reshape their respective industries

across a range of sectors.

For more information about Agility, visit:

Website: www.agility.com

Twitter: twitter.com/agility

LinkedIn: linkedin.com/company/agility

YouTube: youtube.com/user/agilitycorp

About Menzies Aviation

Menzies Aviation has been evolving since 1833 to become one of the worlds'

largest aviation services companies with operations on six continents. It

provides time critical ground services, fuel services and air cargo services at

more than 210 airports in 41 countries, supported by a team of 31,000 highly

trained people. Best in class safety and security is the number one priority

every day. Customers include Air Canada, Air China, Air France-KLM, American

Airlines, Cathay Pacific, easyJet, Frontier Airlines, IAG, Qantas Group, Qatar

Airways, Southwest, United Airlines, WestJet and Wizz Air.

For more information about Menzies Aviation, visit:

Website: www.menziesaviation.com

LinkedIn: linkedin.com/company/menzies-aviation

Facebook: facebook.com/menziesaviationglobal

Instagram: instagram.com/menziesaviationglobal

About National Aviation Services (NAS)

Founded in 2003, National Aviation Services is a Kuwait-based aviation services

company that leads in the emerging markets of the Middle East, Africa, and

South Asia. One of the fastest-growing aviation services companies in emerging

markets, NAS is owned and backed by Agility.

Logo - https://mma.prnewswire.com/media/1739997/Agility_Logo.jpg

Logo - https://mma.prnewswire.com/media/1869321/Menzies_Aviation_Logo.jpg

Logo -

https://mma.prnewswire.com/media/1869320/National_Aviation_Services_Logo.jpg

Source: Agility