Menzies buys 50% stake in Jardine Aviation Services Group
Upon deal completion, Jardine Airport Services will be rebranded as Menzies CNAC Aviation Services
Menzies Aviation, the leading service partner to the world’s airports and airlines, announced the acquisition of a 50 percent stake in Jardine Aviation Services Group (JASG) from Jardine Matheson – a diversified Asia-focused conglomerate.
JASG is a joint venture of Jardine Matheson with China National Aviation Corporation (CNAC). "JASG, a leading ground handling services company, has been operating at Hong Kong International Airport since 1946, and has been a key contributor to Hong Kong’s growth as a global aviation hub," says an official release from 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, the release added.
Upon completion, Jardine Airport Services will be rebranded as Menzies CNAC Aviation Services, becoming part of the world’s largest aviation services company with operations at over 255 locations in more than 60 markets across six continents, the release added.
"The new joint venture with CNAC strengthens an existing partnership between Menzies and CNAC at Macau International Airport where it has been the ground handler of choice since 1994. It also has operations at three airports in Indonesia and Malaysia."
Vivien Lau, CEO, JASG says: “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.”
Philipp Joeinig, Group CEO, Menzies Aviation adds: “We are excited to enhance our presence in Asia as we look to capture the exciting opportunities in this fast-growing aviation market. 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. Together, we will provide unparalleled aviation services to our customers, ensuring our continued commitment to safety, security and excellence. We look forward to welcoming JASG employees to Menzies; their experience will be invaluable as we support the growth and expansion of Hong Kong’s aviation sector.”
The transfer of ownership has been agreed to by CNAC, which will remain a co-owner of the business alongside Menzies, the release added.
