Menzies Aviation own a 50.1% stake in Groundforce Portugal
The acquisition has now been completed and Menzies Aviation own a 50.1% stake in Groundforce Portugal, concluding a transition lasting since MAR23. The other 49.9% remains with TAP. Overall, Menzies’ market share in Portugal has now risen to 65%. The news “marks a significant milestone in the recovery and revitalization of the ground handling company with an impact on the entire national economy,” the release underlines. For Groundforce Portugal, it means becoming rebranded as Menzies Aviation and joining the world’s largest aviation services company totaling 45,000 employees at more than 290 locations in 65+ countries around the world. Groundforce Portugal itself consists of 4,000 staff, and it already manages more than 100,000 aircraft turns every year at five of Portugal’s airports: Humberto Delgado Airport (LIS) in Lisbon, Francisco Sá Carneiro Airport (OPO) in Porto, Gago Coutinho Airport (FAO) in Faro, Cristiano Ronaldo International Airport (FNC) on Madeira and Porto Santo Airport (PXO) on Porto Santo Island in Madeira.
The two shareholders, TAP and Menzies Aviation have committed to investing in training and advanced technology to ensure that quality standards and process efficiency are increased.
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 revitalization 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 center 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, added: “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.”
