Menzies to take controlling stake in TAP’s aviation services wing

Menzies Aviation has signed a subscription agreement with TAP Air Portugal and Groundforce for a controlling stake of 50.1% in Groundforce, TAP’s aviation services provider. “This transaction is further evidence of our scale and ability to enter a market in a meaningful way, as a long-term investor with a strong commitment to deliver industry leading services to airline and airport customers,” said Hassan El-Houry, chairman, Menzies Aviation. “The agreement is a decisive step towards the recovery of Groundforce, reinforcing the confidence of all its stakeholders in the future of this company, and also a significant milestone in strengthening handling capacity,