The stake was acquired from conglomerate Jardine Matheson and Menzies Aviation says the acquisition reflects its long-term investment in the region where it will support the rebound in Hong Kong’s aviation sector and strengthen its presence in Asia.
When completed, Jardine Airport Services Limited will be rebranded as Menzies CNAC Aviation Services Limited, joining Menzies’ network of more than 250 locations in more than 60 markets.
Menzies’ joint venture with CNAC strengthens its existing partnership at Macau International Airport, where it has provided ground handling services since 1994.
It also has operations at three airports in Indonesia and has recently entered Malaysia.
Vivien Lau, CEO of 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 of Menzies Aviation, adds, “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.”
The transfer of ownership has been agreed to by China National Aviation Corporation (Group) Limited, which will remain a co-owner alongside Menzies.
The transaction is subject to regulatory approval and is expected to be completed in the coming months.