Menzies Aviation, one of the largest aviation services companies globally, is preparing to make a significant move into the UAE and Saudi Arabia, two of the most active and competitive aviation markets. This strategic expansion is a key focus for Hassan El-Houry, Chairman of the UK-headquartered Menzies Aviation, who is planning an assertive entry into these Gulf markets. Following three years of rapid double-digit growth, Menzies Aviation is set to break previous records this year as it continues to broaden its services across new international markets, according to Chairman Hassan El-Houry.
He said that the company has “aggressive” growth plans for the GCC region, including Saudi Arabia and the UAE, in the next five years. “We are already operating in Kuwait, one of our largest operations. I believe that the discussion about the GCC will be entirely different in five years”, said El-Houry. “Saudi Arabia aims to triple its number of passengers to 250 million by 2030. They plan to invest $100 billion in aviation infrastructure to achieve this. We want to be a part of that - and will be”, he added.
Menzies Aviation currently maintains a significant operational presence in Kuwait. In 2022, Agility, the Kuwaiti entity, acquired the UK-based John Menzies plc and merged it with NAS to form Menzies Aviation. Recognized as the largest aviation services company in the world, Menzies operates at over 295 airports across more than 65 countries. With a workforce of 50,000 employees, the company manages over 4.5 million flights and handles more than 2 million tons of cargo each year. Additionally, it functions as an independent aviation fueling company.
In the UAE, Menzies Aviation would have to compete against Emirates Group-owned dnata, which had a net profit of $387 million in 2023-24 and currently provides aviation services to airports in 52 countries. El-Houry said, “There are about five major competitors, along with some regional leaders, and then around 100 to 200 smaller companies that are country- or airport-specific”.
Recently, Menzies Aviation launched operations in Spain, Portugal, Hong Kong, Jamaica, Peru, and Panama. The company outbid competitors and won operational rights for seven airports in Spain. “We are region- or country-agnostic”, said El-Houry, who was formely CEO at National Aviation Services. “We look at each opportunity individually. And, you know, assess whether it adds value to our company; if it adds value to our company, we pursue it. If not, we walk away”, he said.
The company reported $2.2 billion in revenue for 2023, reflecting a 10.7 percent annual increase. For 2024, El-Houry is optimistic that the company will surpass a 10 percent growth rate in passenger numbers, flights, and revenue. Rapid expansion is underway in Southeast Asia, which has been among the final markets to recover post-pandemic. While the Middle East had already returned to pre-COVID levels last year, Southeast Asia was still lagging, impacting global figures.