Menzies Aviation Acquires Majority Stake In Groundforce Portugal

Menzies Aviation, a subsidiary of Agility Global, has finalized its acquisition of a majority 50.1% stake in Groundforce Portugal. This strategic acquisition not only extends Menzies' operational footprint but also catapults the company to a commanding 65% market share in Portugal's ground and air cargo services industry.

Groundforce Portugal, known for managing over 100,000 aircraft movements annually across five critical Portuguese airports, will see a rebranding under the Menzies Aviation banner. This integration signifies a pivotal moment in the sector's recovery, with positive ramifications for the national economy at large.

The deal, concluded over a year after its initial announcement in March 2023, emphasizes Menzies' dedication to enhancing the aviation service quality and capacity in Portugal. This commitment is further solidified through a partnership with TAP, which retains a 49.9% stake in the venture. The rebranded entity will join forces with TAP to inject significant investment into cutting-edge technology, aiming to set new standards in service efficiency, quality, and sectoral growth.

This move is part of a broader strategy to bolster Menzies' position in Southern Europe while supporting over 4,000 staff members across major Portuguese airports. These airports include Humberto Delgado Airport in Lisbon, Francisco Sá Carneiro Airport in Porto, Gago Coutinho Airport in Faro, Cristiano Ronaldo International Airport on Madeira, and Porto Santo Airport on Porto Santo Island.

Hassan El-Houry, Executive Chairman of Menzies Aviation, articulated the acquisition as a crucial step towards revitalizing the Portuguese aviation industry and a testament to Menzies' long-term investment strategy in the region. El-Houry lauded the move as an opener for new possibilities in Portugal and Southern Europe, emphasizing innovation and excellence in aviation services.

Philipp Joeinig, Group CEO of Menzies Aviation, expressed enthusiasm for the venture, underscoring the significance of integrating Groundforce Portugal's workforce into Menzies. Joeinig anticipates that their expertise will be a considerable asset in propelling Portugal's aviation sector forward, with a strong commitment to maintaining the highest standards of safety, security, and service excellence.