UK aviation firm acquires stakes in Pakistan

Published December 5, 2020
A UK-based global aviation services specialist Menzies Aviation on Friday announced the acquisition of a 51 per cent shareholding in Royal Airport Services (RAS). — AFP/File
A UK-based global aviation services specialist Menzies Aviation on Friday announced the acquisition of a 51 per cent shareholding in Royal Airport Services (RAS). — AFP/File

ISLAMABAD: A UK-based global aviation services specialist Menzies Aviation on Friday announced the acquisition of a 51 per cent shareholding in Royal Airport Services (RAS).

An aviation services business based in Pakistan, RAS has been operating in the country since 2007 and has a strong position in local markets, a press release said. It has been providing a range of aviation services including ground and cargo handling, airline ticketing and cargo sales across Pakistan. RAS handles both domestic and international carriers across eight airports, with revenue in excess of $20 million in 2019, the press release added.

The deal offers Menzies Aviation the opportunity to enter the growing Pakistan aviation services market as the acquisition creates a strong platform for the company. It [acquisition] represents clear delivery against the company’s strategic objectives of increasing depth of service capability and expanding its geographical footprint, the statement added.

“We are delighted to be partnered with Royal Airport Services. 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,” Menzies Aviation’s Executive Chairman Philipp Joeinig said.

Published in Dawn, December 5th, 2020

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Kurram atrocity
Updated 22 Nov, 2024

Kurram atrocity

It would be a monumental mistake for the state to continue ignoring the violence in Kurram.
Persistent grip
22 Nov, 2024

Persistent grip

PAKISTAN has now registered 50 polio cases this year. We all saw it coming and yet there was nothing we could do to...
Green transport
22 Nov, 2024

Green transport

THE government has taken a commendable step by announcing a New Energy Vehicle policy aiming to ensure that by 2030,...
Military option
Updated 21 Nov, 2024

Military option

While restoring peace is essential, addressing Balochistan’s socioeconomic deprivation is equally important.
HIV/AIDS disaster
21 Nov, 2024

HIV/AIDS disaster

A TORTUROUS sense of déjà vu is attached to the latest health fiasco at Multan’s Nishtar Hospital. The largest...
Dubious pardon
21 Nov, 2024

Dubious pardon

IT is disturbing how a crime as grave as custodial death has culminated in an out-of-court ‘settlement’. The...