Menzies Aviation records $2.6 billion revenue across global operations

Menzies Aviation reported revenue of $2.6 billion for 2024, a year-on-year increase of 20 percent on expansion in existing and new markets.

"The group also reported a robust EBITDA of $382 million with a 15 percent margin, illustrating the strength of its core operations and the sustainability of the business," says an official release.

Air cargo powers ahead
Over the past 12 months, Menzies secured IATA’s CEIV Li-batt certification in Macau, and its CEIV Pharma accreditation in Kenya, the seventh location to be awarded the certification and first in the MEAA region, according to the Annual Review and Sustainability Report, 2024.

"We’ve expanded our global footprint, securing major contract renewals, including long-term agreements in key markets, including a five-year deal with United Airlines in Australia, an extension with Cathay Cargo in the southwest Pacific, and a renewed agreement with KLM at Amsterdam Schiphol.

"Our new cutting-edge 245,000 square foot domestic cargo terminal opened at Kempegowda International Airport Bengaluru, in collaboration with Bangalore International Airport. This state-of-the-art facility is designed to enhance our cargo operations and support future growth in India’s rapidly expanding airfreight market. Located on a seven-acre site, the terminal is capable of handling up to 360,000 tonnes of cargo annually at peak capacity."

The Menzies Aviation Cargo Handling (MACH) warehouse management system was successfully deployed to 24 locations in 2024, with 28 additional stations set to implement the system in 2025, the report added.

Leadership views
"2024 has been a groundbreaking year for Menzies, marked by double-digit growth and record-breaking milestones in both flights and passengers served, and cargo tonnes handled," says Hassan El-Houry, Executive Chairman, Menzies Aviation. "As we reflect on these achievements, we take immense pride in leading the way, delivering high-quality aviation services, while upholding the highest standards of safety and security. With passenger numbers expected to surpass 5.2 billion for the first time and more than 40 million flights taking to the skies in 2025, our vision for the future remains clear: to be the world’s leading aviation services provider. We are confident about the future and are committed to responsible expansion, operational excellence, sustainability, and contributing to the powerful and positive force of the aviation industry."

Philipp Joeinig, Group CEO, Menzies Aviation adds: "Strategic expansion has been key to our success over the past four years, resulting in a 41 percent increase in the number of airports we serve and a 71 percent growth in the number of countries since 2021. Our efforts in nurturing strong relationships with our airline customers and airport partners has created a solid foundation for continued success, with new global opportunities at an all-time high. I’m especially proud that we were the first major aviation services business to have our net zero targets approved by the Science Based Targets initiative, reinforcing our commitment to leading from the front and raising the bar in sustainability. Our goal of becoming the undisputed leader in our industry remains central to everything we do, and we look forward to continuing this exciting journey together."

Key 2024 highlights:

Menzies is moving towards its target of 25 percent electric ground support equipment (GSE) by 2025, with 22 percent of its worldwide fleet now electric.

"Second consecutive year of reducing voluntary staff turnover with a further five percent reduction in 2024, meaning the company is now well below pre-Covid turnover levels.

*Reached its goal of 25 percent of women in senior leadership roles, in line with IATA’s 25by2025 campaign; and

*Financed over $388k towards sustainable development partnerships, community projects, charities and supporting local fundraising by its teams."