John Menzies

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John Menzies plc
TypePublic
LSE: MNZS
IndustryAviation
Founded1833
HeadquartersEdinburgh, Scotland, UK
Key people
Philipp Joeinig (Chairman & CEO)
[1]
ServicesGround handling
Cargo
Fuelling
RevenueIncrease US$1.352.5 million (2021)[2]
Increase US$75.8 million (2021)[2]
Increase US$29.9 million (2021)[2]
SubsidiariesMenzies Aviation plc
Websitewww.menziesaviation.com

John Menzies plc (/ˈmɛnziːs/ MEN-zeez, traditionally /ˈmɪŋɪs/ MING-iss) is the holding company of Menzies Aviation plc, an aviation services business providing ground handling, cargo handling, cargo forwarding and into-plane (ITP) fuelling, based in Edinburgh, Scotland.

History

The company was founded by a bookseller, John Menzies, with his first shop in Princes Street, Edinburgh, in 1833.[3][a] In 1941, the company's branch in Greenock was destroyed in the Greenock Blitz.[6]

In January 1998, the company closed its principal branch in Edinburgh, although the head office continued to occupy the building.[7] The whole retail operation was sold to WH Smith in May 1998, to enable Menzies to concentrate on its distribution business.[8]

In January 2007, the company merged its newspaper and magazine wholesale distribution businesses in Northern Ireland into a joint venture with Eason & Son, which became known as EM News Distribution; the company acquired the 50% it did not own in May 2017.[9]

On 31 January 2017, Menzies Aviation completed the acquisition of specialist aircraft fueller Aircraft Services International, Inc (ASIG) from BBA Aviation plc for US$202m.[10] After a planned merger between the Menzies Distribution and the DX Group collapsed in August 2017, the company announced, in July 2018, that it had sold the distribution division to private equity company Endless LLP, with the former owner retaining a 10% share in the business.[11]

On 27 March 2020, the company confirmed it had been badly affected by the COVID-19 pandemic and reduced its headcount by over 17,500.[12] The number of flights Menzies handled globally fell by 60% during the second quarter 2020.[13]

In April 2022, it was announced Menzies Aviation had acquired the Santiago-based ground and air cargo handling services company, Agunsa Aviation Services.[14]

On 30 March 2022, Agility Logistics that it would acquire the company for £571 million and merge it with its existing wholly-owned subsidiary, National Aviation Services.[15][16]

Pronunciation

The name Menzies is traditionally pronounced /ˈmɪŋɪs/ MING-iss, as the "z" is historically the letter ȝ (yogh).[17]

See also

Notes

  1. ^ Menzies died at his townhouse, 3 Grosvenor Crescent in Edinburgh's West End,[4] and was buried in Warriston Cemetery, on the north side of the city.[5]

References

  1. ^ "Main Board". John Menzies. Retrieved 24 February 2022.
  2. ^ a b c "Annual Report 2021" (PDF). John Menzies. Retrieved 29 July 2022.
  3. ^ "John Menzies: From the high street to the skies". BBC. 22 February 2022. Retrieved 24 February 2022.
  4. ^ Edinburgh and Leith Post Office Directory 1875-6
  5. ^ "Warriston Cemetery". Gazetteer for Scotland. Retrieved 24 February 2022.
  6. ^ "John Menzies plc – Our History". www.johnmenziesplc.com. Retrieved 24 February 2022.
  7. ^ "John Menzies to close flagship store". The Independent. 12 January 1998. Archived from the original on 13 June 2022. Retrieved 24 February 2022.
  8. ^ "Menzies sells shops to WH Smith in GBP 64m deal". Scotland on Sunday. 8 March 1998. Archived from the original on 29 June 2014. Retrieved 24 February 2022.
  9. ^ "Menzies pays €3.6m for Eason's half of joint venture". The Independent. 31 May 2017. Retrieved 24 February 2022.
  10. ^ "John Menzies buys plane refuelling firm". BBC News. 16 September 2016.
  11. ^ "John Menzies sells distribution business". BBC News. 26 July 2018. Retrieved 24 February 2022.
  12. ^ "John Menzies lays off 55% of staff as coronavirus hits air travel". Reuters. 27 March 2020. Retrieved 24 February 2022.
  13. ^ "John Menzies soars on better trading and strong liquidity". Shares Magazine. 22 June 2020. Retrieved 24 February 2022.
  14. ^ "Menzies acquires Chile's Agunsa". www.airportsinternational.com. Retrieved 29 April 2022.
  15. ^ "Menzies Aviation accepts £571m takeover by Kuwaiti rival". BBC. 30 March 2022. Retrieved 6 June 2022.
  16. ^ "Kuwait's Agility Unit Tristar sign M&A deals for $965 million". The Capital Quest. 1 April 2022. Retrieved 29 July 2022.
  17. ^ "Why is Menzies pronounced Mingis?". BBC. 10 January 2006. Retrieved 24 February 2022.

External links

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