Menzies Aviation, the main carrier partner to the sphere’s airports and airways, has executed its acquisition of a 50.1% stake in Groundforce Portugal.
Groundforce Portugal manages more than 100,000 plane turns every twelve months across 5 of the busiest airports in Portugal, where it affords floor and air cargo services and products to plenty of main world airways. Upon completion, Menzies secures a 65% market portion in Portugal.
The successful completion of this transaction, more than twelve months after the settlement used to be first offered in March 2023, marks a large milestone within the recovery and revitalisation of the floor handling firm with an affect on the total nationwide economy. It reaffirms Menzies’ commitment to strengthening handling skill across the aviation community in Portugal, in partnership with TAP which retains a 49.9% stake within the synthetic.
Groundforce Portugal will be rebranded as Menzies Aviation, turning into fragment of the sphere’s largest aviation services and products firm with 45,000 employees and operations at over 290 areas in more than 65 international locations, on six continents. Menzies will welcome more than 4,000 employees working across 5 airports: Humberto Delgado Airport (LIS) in Lisbon, Francisco Sá Carneiro Airport (OPO) in Porto, Gago Coutinho Airport (FAO) in Faro, Cristiano Ronaldo World Airport (FNC) on Madeira and Porto Santo Airport (PXO) on Porto Santo Island in Madeira.
Along side TAP, Menzies Aviation will spend money on developed technology, in a strategic rush to underscore its dedication to elevating standards, bettering effectivity, and guaranteeing sustained relate. This could perhaps furthermore furthermore encourage employees pattern because the firm builds its presence in Southern Europe.
Hassan El-Houry, Govt Chairman, Menzies Aviation said: “This day’s announcement is the culmination of a twelve months-long process to transfer ownership and development the revitalization of the Portuguese aviation sector. We are dedicated to our strategic investment within the put, paving the fashion for a future where innovation and excellence grab centre stage. This milestone opens a brand contemporary chapter for Menzies in Portugal and the Southern European put, and we no longer sleep for working collectively to bring top quality services and products across the country’s aviation community.”
Philipp Joeinig, Community CEO, Menzies aviation said: “We are cheerful to embark on a thrilling challenge in Portugal, working with TAP Portugal and our contemporary employees to bring unmatched aviation services and products, upholding our commitment to security, security, and excellence. The integration of Groundforce Portugal employees into Menzies is eagerly anticipated, as their ride will provide helpful in fostering the growth and growth of Portugal’s aviation sector.”
