Kuwait’s Agility owned Menzies Aviation has acquired a 50% stake in Jardine Aviation Services Group (JASG) from Jardine Matheson, as it looks to bolster its presence in Asia. JASG is a joint venture of Jardine Matheson with China National Aviation Corporation (CNAC). Upon completion, it will be rebranded as Menzies CNAC Aviation Services Limited, Menzies said in a statement on Thursday. The terms of the acquisition was not disclosed.
Hassan El Houry, chairman of Menzies Aviation, said: “We are excited to enhance our presence in Asia as we look to capture the exciting opportunities in this fast-growing aviation market. The integration enables us to broaden our footprint in Hong Kong, the Greater Bay Area and China as we build a collaborative relationship with CNAC, fostering mutual growth and success.”
London-headquartered Menzies Aviation was created after the 2022 acquisition of London-listed John Menzies by Kuwait-based logistics company Agility for $921.5 million.
JASG is a aviation ground handling company based at Hong Kong International Airport with operations in Hong Kong and mainland China and has been operating for more than 75 years in passenger services, flight operations, and ramp and cargo handling.