“The completion of this transaction, more than 12 months after the initial announcement of the agreement in March 2023, represents an important step in the recovery and revitalisation of the ground handling company, with an impact on the national economy,” Menzies Aviation said in a statement.
The Groundforce Portugal brand will disappear, as it becomes part of “the world’s largest aviation services company, with 45,000 employees and operations in more than 290 locations in more than 65 countries, on six continents.”
According to the information released, “Groundforce Portugal assists more than 100,000 aircraft movements annually at Portugal’s five busiest airports, providing ground and air cargo services to many leading airlines.” It employs more than 4,000 people. The British company, owned by Kuwait’s Agility Holding, will have a 65% stake in Portugal.
TAP retains a 49.9% stake. Menzies is committed to “strengthening Portugal’s aviation support capacity,” by investing “in cutting-edge technologies” and “supporting staff development.”
“This announcement is the culmination of a year-long process to transfer ownership and further revitalize the Portuguese aviation sector, and we are committed to our strategic investment in the region, paving the way for a future where innovation and excellence are at the forefront,” said Hassan El-Houry, CEO of Menzies Aviation, in the press release.
“This is a new chapiter for Menzies in Portugal and in the European region of Sudan, and we have many travel packages to provide high-quality services at the paid aviation destination,” he adds. .
Menzies has appointed Portuguese manager Rui Gomes as CEO of Groundforce, while Michael Stratman returns to Menzies as COO of Portugal, having previously been COO of Easyjet Handling in Spain.
