Dubai: Kuwait-headquartered Agility’s Menzies Aviation announced Thursday it has acquired a 50 per cent stake in Hong Kong-based Jardine Aviation Services Group (JASG) from Jardine Matheson – a diversified Asia-focused conglomerate.
Menzies Aviation said that this partnership is a joint venture with China National Aviation Corporation (CNAC). Upon completion, Jardine Airport Services Limited will be rebranded as Menzies CNAC Aviation Services Limited, becoming part of the world’s largest aviation services company with operations at over 255 locations in more than 60 markets on six continents.
China National Aviation Corporation (Group) Limited has agreed to the transfer of ownership and will remain a co-owner of the business alongside Menzies. The acquisition highlights Menzies’ long-term investment in the region, where it will support the rebound in Hong Kong’s aviation sector and bolster its presence in Asia. JASG is a ground-handling services company that has been operating at Hong Kong International Airport since 1946.
Hassan El Houry, Chairman - Menzies Aviation, said, “The integration enables us to broaden our footprint in Hong Kong, the Greater Bay Area and China as we build a collaborative relationship with CNAC, fostering mutual growth and success.” El Houry said, “Together, we will provide unparalleled aviation services to our customers, ensuring our continued commitment to safety, security and excellence.”
The joint venture with CNAC strengthens a partnership between Menzies and CNAC at Macau International Airport (MFM), where it has been the ground handler of choice since 1994. It also operates at three airports in Indonesia and, more recently, entered Malaysia.
Vivien Lau, CEO of JASG, said, “We see tremendous potential for our employees under Menzies’ stewardship. In addition to strengthening its position within the global aviation sector, the integration offers expanded career prospects and training and development opportunities for our employees.” The transaction is subject to regulatory approval and is expected to be completed in the coming months, said the company.