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December 5, 2020

RAS stake acquired

Business

December 5, 2020

ISLAMABAD: Menzies Aviation, the global aviation services specialist, has announced acquisition of a 51 percent shareholding in Royal Airport Services (RAS), a leading aviation services business based in Pakistan, a statement said..

RAS has been operating since 2007 and has a strong position in its local markets, providing a range of aviation services, including ground and cargo handling, airline ticketing and cargo sales across the country, it added.

They handle both domestic and international carriers across eight airports, with the revenue in excess of $20 million in 2019.

The deal offers Menzies Aviation the opportunity to enter the growing Pakistan aviation services market. This acquisition creates a strong platform for Menzies Aviation in this attractive growth market and represents clear delivery against the company’s strategic objectives of increasing depth of service capability and expanding its geographical footprint.

Philipp Joeinig, executive chairman of Menzies, said: “We are delighted to be partnered with Royal Airport Services, the leading aviation services company in Pakistan. 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.”

Shujaat Azeem, chairman of Royal Airport Services, said: “We are delighted to have selected Menzies Aviation, the premium international aviation services provider, as our partner to further strengthen the Royal Airport Services business.”

“Menzies / RAS Pakistan will provide the best in class international operating standards to the eight airports in which we operate in Pakistan. This will enhance the passenger experience, improve air cargo connectivity and support tourism growth in the country,” he said.