Ground Handling

Menzies secures 50.1% acquisition in Groundforce Portugal

Menzies secures 50.1% acquisition in Groundforce Portugal
Today's announcement means Menzies now has a 65 per cent market share in Portugal (Image credit: Menzies Aviation)

Menzies Aviation has completed its acquisition of a 50.1 per cent stake in TAP Air Portugal’s ground handling subsidiary Groundforce Portugal.

Groundforce Portugal manages more than 100,000 aircraft turnarounds a year across Portugal’s five busiest airports, where it provides ground and air cargo services to a number of global airlines.

Menzies’ acquisition means the company now has a 65 per cent market share in Portugal.

Philipp Joeinig, Group CEO of 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 prove invaluable in fostering the growth and expansion of Portugal’s aviation sector.”

According to Menzies, completion of the acquisition marks a significant milestone in the recovery and revitalisation of the ground handling company with an impact on the entire national economy.

It also reaffirms the ground services provider’s commitment to strengthening handling capacity across the aviation network in Portugal, in partnership with TAP Air Portugal, the company added.

TAP, the Portuguese flag carrier, retains a 49.9 per cent stake in the business.

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, including Humberto Delgad, Francisco Sá Carneiro, Gago Coutinho, Cristiano Ronaldo International and Porto Santo airports.

Together with TAP, Menzies said it 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 of Menzies Aviation, added: “Today’s announcement is the culmination of a year-long process to transfer ownership and progress the revitalisation 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.”

Share
.