Menzies Aviation, the leading service partner to the world’s airports and airlines, has announced three years of consecutive double-digit revenue growth, as air travel continues to edge closer to pre-pandemic levels.
Reported in its 2023 Annual Review & Sustainability Report, the aviation services provider delivered a strong financial performance, with global revenue increasing to $2.2 billion – a 10.7% increase compared to the previous year. The Group delivered EBITDA of $318m (post IFRS16), representing a 15% margin.
This growth comes on the back of an expanded global footprint and strategic partnerships in Serbia, Jamaica, India and Bulgaria which helped to propel regional growth, including the successful integration of 41 National Aviation Services (NAS) stations, following its 2022 merger.
In 2023, Menzies Aviation served more than 4.5 million flights (2022: 4.1 million), an increase of 9.7 per cent, and over 217 million airline passengers (2022: 183 million), up 18.5 per cent. Cargo tonnes increased to 2 million (2022: 1.8 million) and it also welcomed more than 1.8 million guests to its 36 Pearl lounges across the globe (2022: 660,000), an increase of 173 per cent.
It outperformed the industry average for operational safety performance in 2023, reaffirming its commitment to delivering the best safety culture in the industry. Its aircraft damage rate was six times lower than the industry average reported by IATA with just 0.41 incidents per 10,000 turns, against an average of 6.2.
The 2023 Annual Review & Sustainability Report also reflects on the company’s progress against its All In plan for a fair and sustainable future. Key highlights of the 2023 Sustainability Report include a reduction of its Scope 1 and Scope 2 emissions by 3,417 tonnes CO2e compared to a baseline year of 2022. Compared with 2019 pre-pandemic levels, this is a decrease of approximately 26,000 tonnes CO2e – which underlines the progress it has made against its 50% reduction target for 2030. It 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 beyond that, said a release.