Menzies Aviation completes Groundforce Portugal deal

Menzies Aviation has completed its acquisition of a 50.1% stake in Groundforce Portugal, a ground and air cargo service provider.

Upon completion, Menzies secured a 65 percent market share in Portugal, according to the official release from Menzies.

“The successful completion of the transaction, more than 12 months after the agreement was first announced in March 2023, marks a significant milestone in the recovery and revitalisation of the ground handling company with an impact on the entire national economy. It reaffirms Menzies’ commitment to strengthening handling capacity across the aviation network in Portugal, in partnership with TAP which retains a 49.9 percent stake in the business.”

Groundforce Portugal will be rebranded as Menzies Aviation and will onboard more than 4,000 employees working across five airports: 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 in Madeira, the release added.

Hassan El-Houry, Executive Chairman, Menzies Aviation says: “Today’s announcement is the culmination of a year-long process to transfer ownership and progress the revitalisation of the Portuguese aviation sector. This milestone opens a new chapter for Menzies in Portugal and the Southern European region, and we look forward to working together to deliver high-quality services across the country’s aviation network.”

Philipp Joeinig, Group CEO, Menzies Aviation adds: “We are delighted to embark on an exciting venture in Portugal, working with TAP Portugal and our new employees to deliver unmatched aviation services, upholding our commitment to safety, security, and excellence. The integration of Groundforce Portugal employees into Menzies is eagerly anticipated, as their expertise will provide invaluable in fostering the growth and expansion of Portugal’s aviation sector.”