Menzies Aviation acquires 50% stake in Jardine Aviation Services Group

PRESS RELEASE

25 January 2024 – Menzies Aviation (“Menzies”), the leading service partner to the world’s airports and airlines, today announced the acquisition of a 50% stake in Jardine Aviation Services Group (“JASG”) from Jardine Matheson – a diversified Asia-focused conglomerate. This partnership is a joint venture 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.

The strategic 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.

Upon completion, Jardine Airport Services Limited will be rebranded as Menzies CNAC Aviation Services Limited, becoming part of the world’s largest aviation services company with operations at over 255 locations in more than 60 markets, on six continents. Menzies recognises the strength and experience of the JASG team and will be looking to further support staff development as the company builds its presence in Hong Kong and expands across the region.

Menzies has long-standing relationships as a trusted partner across the region. The new Joint Venture with CNAC strengthens an existing partnership between Menzies and CNAC at Macau International Airport (MFM), where it has been the ground handler of choice since 1994. It also has operations at three airports in Indonesia and, more recently, entered Malaysia.

Vivien Lau, CEO, JASG, said, “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, said, “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 China National Aviation Corporation (Group) Limited, which will remain a co-owner of the business alongside Menzies. The transaction is subject to regulatory approval and is expected to be completed in the coming months.