Airport service provider and ground handling firm Menzies Aviation said it has taken a step to expand in Asia with its 50% acquisition of Jardine Aviation Services Group (JASG).
The deal was described as a joint venture with China National Aviation Corporation (CNAC).
JASG is based at Hong Kong International Airport, and the partnership acquisition expands Menzies’ footprint in South Asia. It will be rebranded as Menzies CNAC Aviation Services upon completion.
The Menzies-CNAC partnership is an addition to an existing relationship between the firms in another of China’s Special Administrative Regions, Macau. Menzies and CNAC have worked together at Macau International Airport (MFM) since 1994.
Philipp Joeinig, Group CEO of Menzies Aviation, said: “We are excited to enhance our presence in Asia as we look to capture the exciting opportunities in this fast-growing aviation market. The integration enables us to broaden our footprint in Hong Kong, the Greater Bay Area and China as we build a collaborative relationship with CNAC.”
“We look forward to welcoming JASG employees to Menzies, their experience will be invaluable as we support the growth and expansion of Hong Kong’s aviation sector,” Joeinig added.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Vivien Lau, CEO of JASG lauded the deal: “We see tremendous potential for our employees under Menzies’ stewardship. In addition to strengthening its position within the global aviation sector, the integration offers expanded career prospects and training and development opportunities for our employees.”