Menzies Aviation reports 10.7% revenue increase

Menzies Aviation has announced a 10.7% increase in revenue, indicating significant growth in its operations. This financial improvement highlights the company's successful expansion and potentially increasing demand in the aviation services sector.

UK-headquartered Menzies Aviation has announced a revenue of $2.2 billion (approximately £1.8 billion) for the latest fiscal year, marking a notable 10.7% rise compared to the preceding year.

This uptick in revenue can be attributed in part to the aviation industry's ongoing recovery from the global pandemic. Additionally, Menzies Aviation's expansion efforts at both existing and new airports worldwide have contributed to this growth.

Over the course of the past fiscal year, Menzies Aviation saw a substantial increase in its global workforce, adding 6,000 new employees. Furthermore, the company continued its commitment to sustainability by investing in electric ground equipment, which now accounts for 17% of its total equipment inventory.

Menzies Aviation has set an ambitious target to transition at least 25% of its equipment to electric power by 2025.

Headquartered in Edinburgh, the company has expanded its ground-handling services to encompass over 265 airports across 55 countries worldwide.

Hassan El-Houry, Executive Chairman of Menzies Aviation, emphasized the company's steadfast commitment to driving the global economy and delivering seamless aviation services. With a workforce of 45,000 individuals, Menzies Aviation prioritizes safety, quality, and security to maintain its leadership position in the industry. El-Houry underscored the company's dedication to ethical business practices, sustainable growth, and resilience, positioning Menzies Aviation for continued success and sustained growth in the years to come.

Philipp Joeinig, Group CEO of Menzies Aviation, highlighted the company's robust financial performance in 2023, marking the culmination of three years of consecutive double-digit growth. This achievement has solidified Menzies Aviation's position as the leading entity in the industry. Notably, the company has surpassed the industry average in safety and has taken a pioneering role in electrification efforts. Joeinig attributed this success to Menzies Aviation's unwavering dedication to customer and employee satisfaction, as well as its commitment to innovation and excellence across all operations. Looking ahead, the company remains focused on sustained growth and delivering value to all stakeholders.

Throughout 2023, Menzies Aviation served more than 4.5 million flights, representing a 9.7% increase from the previous year, and accommodated over 217 million airline passengers, marking an 18.5% rise compared to 2022.

Cargo handling increased to 2 million tonnes up from 1.8 million in 2022.

Source: ukaviation