Menzies Aviation, the leading service partner to the world’s airports and airlines, has completed its acquisition of a 50.1% stake in Groundforce Portugal.
Groundforce Portugal manages more than 100,000 aircraft turns every year across five of the busiest airports in Portugal, where it provides ground and air cargo services to several leading global airlines. Upon completion, Menzies secured a 65% market share in Portugal.
The successful completion of this transaction, more than 12 months after the agreement was first announced in March 2023, marks a significant milestone in the recovery and revitalisation of the ground handling company with an impact on the entire national economy. It reaffirms Menzies’ commitment to strengthening handling capacity across the aviation network in Portugal, in partnership with TAP which retains a 49.9% stake in the business.
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Groundforce Portugal will be rebranded as Menzies Aviation, becoming part of the world’s largest aviation services company with 45,000 employees and operations at over 290 locations in more than 65 countries, on six continents. Menzies will welcome more than 4,000 employees working across five airports: Humberto Delgado Airport (LIS) in Lisbon, Francisco Sá Carneiro Airport (OPO) in Porto, Gago Coutinho Airport (FAO) in Faro, Cristiano Ronaldo International Airport (FNC) on Madeira and Porto Santo Airport (PXO) on Porto Santo Island in Madeira.
Together with TAP, Menzies Aviation will invest in advanced technology, in a strategic move to underscore its dedication to elevating standards, enhancing efficiency, and ensuring sustained growth. It will also support staff development as the company builds its presence in Southern Europe.
Hassan El-Houry, Executive Chairman, Menzies Aviation said: “Today’s announcement is the culmination of a year-long process to transfer ownership and progress the revitalization of the Portuguese aviation sector. We are committed to our strategic investment in the region, paving the way for a future where innovation and excellence take centre stage. This milestone opens a new chapter for Menzies in Portugal and the Southern European region, and we look forward to working together to deliver high-quality services across the country’s aviation network.”
Philipp Joeinig, Group CEO, Menzies aviation said: “We are delighted to embark on an exciting venture in Portugal, working with TAP Portugal and our new employees to deliver unmatched aviation services, upholding our commitment to safety, security, and excellence. The integration of Groundforce Portugal employees into Menzies is eagerly anticipated, as their expertise will provide invaluable in fostering the growth and expansion of Portugal’s aviation sector.”
