Menzies Aviation, an Agility Global company and a principal service partner for airports and airlines worldwide, has reported notable financial outcomes in its “2023 Annual Review & Sustainability Report.” The aviation services provider highlighted a third consecutive year of double-digit revenue growth, with revenues surging to $2.2 billion, marking a 10.7% rise from the previous year. This performance corresponds to a 15% EBITDA margin, calculated at $318m post IFRS16.
The company’s robust growth is attributed to its expanded operations across various global markets, including strategic partnerships in Serbia, Jamaica, India, and Bulgaria. These regions have been pivotal in driving Menzies’ regional growth, illustrating the company’s adeptness in cultivating profitable alliances and expanding its market footprint.
In terms of operational volume, Menzies Aviation managed over 4.5 million flights in 2023, up from 4.1 million in 2022—an increase of 9.7 percent. The firm also witnessed a significant uptick in passenger numbers, serving more than 217 million travelers, an 18.5 percent increase from the previous year. Furthermore, cargo handling rose to 2 million tonnes, and the company’s Pearl lounges welcomed an astonishing 1.8 million guests, marking a 173 percent surge.
A standout aspect of Menzies Aviation’s performance in 2023 was its safety culture. The company reported an aircraft damage rate of just 0.41 incidents per 10,000 turns, a figure six times lower than the industry average of 6.2 reported by IATA, underscoring its commitment to operational safety and excellence.
The “2023 Annual Review & Sustainability Report” also sheds light on Menzies’ sustainability initiatives under its All In plan. Noteworthy is the reduction of its Scope 1 and Scope 2 emissions by 3,417 tonnes CO2e from 2022, with a remarkable decrease of about 26,000 tonnes CO2e since 2019. This progress is significant in the context of its ambitious goal to cut emissions by 50% by 2030. The report also highlights that Menzies is on track to achieve its target of having 25% of its Ground Support Equipment (GSE) electrified, with further plans to expedite this transition.
This detailed reporting from Menzies Aviation not only reflects a successful financial trajectory but also showcases the company’s proactive approach in integrating sustainability into its core operations. The ongoing improvements in safety, environmental management, and global expansion continue to set Menzies apart in the competitive aviation services industry.