News DeskDubai, UAE – Menzies Aviation, a leading global aviation services provider, has announced three consecutive years of double-digit revenue growth, as the aviation industry continues to recover to pre-pandemic levels.
According to its 2023 Annual Review & Sustainability Report, the company reported a global revenue of $2.2 billion, marking a 10.7% increase from the previous year. The Group’s EBITDA stood at $318 million, representing a 15% margin.
The company attributes this growth to its expanded global footprint and strategic partnerships in Serbia, Jamaica, India, and Bulgaria, which have significantly contributed to regional growth.
In 2023, Menzies Aviation served more than 4.5 million flights, an increase of 9.7% from 2022, and over 217 million airline passengers, up 18.5% from the previous year. The company also reported an increase in cargo tonnes to 2 millionand welcomed over 1.8 million guests to its 36 Pearl lounges worldwide, marking a 173% increase from 2022.
Menzies Aviation outperformed the industry average for operational safety performance in 2023, with its aircraft damage rate being six times lower than the industry average reported by IATA.
The company’s 2023 Sustainability Report highlighted its progress towards a sustainable future, with a reduction of its Scope 1 and Scope 2 emissions by 3,417 tonnes CO2e compared to 2022. This represents a decrease of approximately 26,000 tonnes CO2e from pre-pandemic levels in 2019, indicating significant progress towards its 50% reduction target for 2030. The company also announced it is on track to reach its target of 25% of electric Ground Support Equipment (GSE), with plans to accelerate its electrification transition.
Hassan El-Houry, Executive Chairman, Menzies Aviation, reaffirmed the company’s commitment to powering the global economy and delivering seamless aviation services. Philipp Joeinig, Group CEO, Menzies Aviation, celebrated the company’s achievements and reiterated its commitment to continued growth and delivering value to all stakeholders.
