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ISLAMABAD: A UK-based global aviation services specialist Menzies Aviation on Friday announced the acquisition of a 51 per cent shareholding in Royal Airport Services (RAS).
An aviation services business based in Pakistan, RAS has been operating in the country since 2007 and has a strong position in local markets, a press release said. It has been providing a range of aviation services including ground and cargo handling, airline ticketing and cargo sales across Pakistan. RAS handles both domestic and international carriers across eight airports, with revenue in excess of $20 million in 2019, the press release added.
The deal offers Menzies Aviation the opportunity to enter the growing Pakistan aviation services market as the acquisition creates a strong platform for the company. It [acquisition] represents clear delivery against the company’s strategic objectives of increasing depth of service capability and expanding its geographical footprint, the statement added.
“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,” Menzies Aviation’s Executive Chairman Philipp Joeinig said.