The UK-based global aviation services specialist Menzies Aviation has announced the acquisition of 51% shares in the Royal Airport Services (RAS) which is a Pakistan-based aviation services business.
RAS has been operational in Pakistan since 2007 and has a strong foothold in the local market through its provision of a range of aviation services across the country. With its revenue exceeding $20 million in 2019, RAS handles both national and international carriers across eight airports.
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The deal with the RAS has provided Menzies Aviation with both the opportunity and a strong platform to enter Pakistan’s aviation services market.
The Executive Chairman of Menzies Aviation, Philipp Joeinig, announced,
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. Together, as a Joint Venture, we will strive to improve aviation safety and security at the eight airports in Pakistan and foster further growth in the passenger and cargo sectors of this market, which, in turn, will further develop the Pakistani travel and tourism market. RAS has demonstrated the ability to grow successfully and with Menzies Aviation’s additional scale and global reach, there is clear potential to generate further opportunities in the region.
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The Chairman of Royal Airport Services, Shujaat Azeem, said,
We are delighted to have selected Menzies Aviation, the premium International Aviation Services provider, as our partner to further strengthen the Royal Airport Services’ business. Menzies/RAS Pakistan will provide the best in class international operating standards to the eight airports at which we operate in Pakistan. This will enhance the passenger experience, improve air cargo connectivity, and support tourism growth in the country.
Via: PKAviation
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