Edinburgh headquartered Menzies Aviation has completed the acquisition of a 50.1% stake in Portuguese ground handling agent, Groundforce Portugal.
Groundforce Portugal handles around 100,000 aircraft turnarounds every year across five airports and its acquisition goes Menzies Aviation a 65% share in Portuguese market. Airports include Lisbon, Porto and Faro on the mainland along with Funchal and Porto Santo.
Hassan El-Houry, Executive Chairman, Menzies Aviation said: “Today’s announcement is the culmination of a year-long process to transfer ownership and progress the revitalisation of the Portuguese aviation sector. We are committed to our strategic investment in the region, paving the way for a future where innovation and excellence take centre stage. This milestone opens a new chapter for Menzies in Portugal and the Southern European region, and we look forward to working together to deliver high-quality services across the country’s aviation network.”
Philipp Joeinig, Group CEO, Menzies aviation said: “We are delighted to embark on an exciting venture in Portugal, working with TAP Portugal and our new employees to deliver unmatched aviation services, upholding our commitment to safety, security, and excellence. The integration of Groundforce Portugal employees into Menzies is eagerly anticipated, as their expertise will provide invaluable in fostering the growth and expansion of Portugal’s aviation sector.”
Menzies Aviation will now work with TAP Air Portugal to invest in new technology to increase efficiency and growth in its ground handling operation in the region.