ISLAMABAD: Menzies Aviation, the global aviation services specialist, has announced the acquisition of a 51 percent shareholding in Royal Airport Services (RAS), a leading aviation services business based in Pakistan. RAS has been operating since 2007 and has a strong position in its local markets, providing a range of aviation services including ground and cargo handling, airline ticketing and cargo sales across Pakistan.
They handle both domestic and international carriers across eight airports, with revenue in excess of USD 20 million in 2019. The deal offers Menzies Aviation the opportunity to enter the growing Pakistan aviation services market. This acquisition creates a strong platform for Menzies Aviation in this attractive growth market and represents clear delivery against the Company's strategic objectives of increasing depth of service capability and expanding its geographical footprint.
Philipp Joeinig, the executive chairman of Menzies, said: "We are delighted to be partnered with Royal Airport Services, the leading aviation services company in Pakistan. The acquisition is in line with our global strategy to offer our service portfolio to new markets and we believe that a presence in Pakistan will provide a strong platform for further regional growth opportunities.
Together, as a Joint Venture, we will strive to improve aviation safety and security at the eight airports in Pakistan and foster further growth in the passenger and cargo sectors of this market, which in turn will further develop the Pakistan travel and tourism market. RAS has demonstrated the ability to grow successfully and with Menzies Aviation's additional scale and global reach, there is clear potential to generate further opportunities in the region."
Shujaat Azeem, chairman of Royal Airport Services, said: "We are delighted to have selected Menzies Aviation, the premium International Aviation Services provider, as our partner to further strengthen the Royal Airport Services business. Menzies / RAS Pakistan will provide the best in class international operating standards to the eight airports in which we operate at in Pakistan. This will enhance the passenger experience, improve air cargo connectivity and support tourism growth in the country."-PR
Copyright Business Recorder, 2020
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