All John Menzies articles
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News
Menzies and NAS finalise £571m takeover deal
Menzies will recommend to shareholders a takeover offer from Agility subsidiary National Aviation Services (NAS) that values the company at £571m.The two companies today announced they reached agreement on the terms of a recommended cash offer to acquire 100% of the ordinary shares in Menzies at a price of £6.08 ...
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Menzies predicts continued cargo growth as revenues jump 27%
John Menzies, which is currently in takeover talks, saw its revenue climb 27% to $1.35bn in 2021 compared to $1.1bn in 2020 and it expects cargo to fuel further improvements.The aviation services group said its underlying operating profit was $76m, up $100m since 2020 when it was hit by the ...
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Menzies accepts NAS takeover offer
John Menzies has approved a takeover proposal from Agility subsidiary National Aviation Services (NAS) Holding following its rejection of earlier offers.The board of Menzies has received a further revised “final” proposal from Agility subsidiary NAS regarding a possible all cash offer for Menzies of 608 pence per share.The deal has ...
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NAS: Menzies takeover offer 'compelling'
National Aviation Services (NAS) has hit back at John Menzies' rejection of its takeover bid, describing its offer as compelling.The Agility subsidiary today said that its offer of £5.10 per share was 76% higher than Menzies share price at the close of business of February 2 and 68% above the ...
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Menzies dismisses takeover bid
Aviation services group John Menzies has rebuffed a takeover bid from Agility subsidiary National Aviation Services (NAS) Holding.Menzies, which provides airfreight wholesale through Air Menzies International and ground handling through Menzies Aviation, said that after careful consideration it had rejected the offer of £5.10 per share.The board concluded that the ...
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Menzies expands cargo handling presence in Central America
Aviation services company John Menzies has expanded its cargo handling presence in Central America through an investment in Interexpresso.The deal will see Menzies take a 51% stake in the Costa Rica-based handler, which specialises in cargo handling and aviation security services, primarily consisting of cargo document handling, cargo security screening ...
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John Menzies taps into Chinese air cargo market
Aviation services firm John Menzies is set to expand into the Chinese air cargo market.The business is investing £3.4m (US$4.8m) to acquire a minor equity stake, by way of a joint venture, in Chinese firm Guangzhou JFreight Aviation Logistics Supply Chain Co. Ltd (JFreight).The joint venture will see Menzies managing ...
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John Menzies looks to expand in cargo despite volume decline
Ground handler John Menzies saw its cargo volumes decline in the first half of the year but is looking to expand in the sector.The company reported a "resilient" performance in its cargo business as volumes dropped by 22% year on year as a result of reduced bellyhold operations due to ...
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John Menzies' cargo volumes down as it evaluates UK&I redundancies
Handler John Menzies saw its air cargo volumes decline by 37% year on year in April as a result of the coronavirus outbreak-related downturn in passenger flights.In a trading update, the company said that the spread of Covid-19 has had a significant adverse impact on the group’s financial performance.It said ...
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John Menzies to cut workforce by 17,500
Aviation group John Menzies has announced it has cut 17,500 jobs across the globe in response to the coronavirus outbreak.The UK-headquartered company, which offers ground handling, cargo handling and aircraft refuelling, has seen over the last two weeks number of flights it has handled drop by around 60%.It added that ...