Menzies Aviation, a subsidiary of Kuwait’s Agility, has successfully acquired a 50% stake in Jardine Aviation Services Group (JASG) from Jardine Matheson, a strategic move aimed at strengthening its foothold in the Asian aviation market.
JASG, a joint venture between Jardine Matheson and China National Aviation Corporation (CNAC), will undergo a rebranding process and be renamed Menzies CNAC Aviation Services Limited upon completion of the acquisition. The terms of the deal have not been disclosed, as per Menzies’ statement released on Thursday.
Hassan El Houry, Chairman of Menzies Aviation, expressed enthusiasm about expanding their presence in Asia and capitalizing on the growth opportunities presented by the rapidly evolving aviation market. The integration of JASG allows Menzies to extend its footprint in key locations, including Hong Kong, the Greater Bay Area, and mainland China. The acquisition is expected to foster a collaborative relationship with CNAC, promoting mutual growth and success.
Menzies Aviation, headquartered in London, emerged following the 2022 acquisition of John Menzies, a London-listed company, by Agility, a Kuwait-based logistics giant, in a deal valued at $921.5 million.
JASG, with a history spanning over 75 years, operates as an aviation ground handling company based at Hong Kong International Airport. The company’s operations encompass passenger services, flight operations, and ramp and cargo handling, making it a significant player in the aviation support services sector.