Kuwait’s Agility locks in John Menzies takeover after upping offer to 608 pence February 21, 2022 The board of John Menzies plc has accepted an offer from Kuwaiti firm Agility, which is set to see a subsidiary of the Kuwaiti logistics company take over the Scottish aviation firm. Menzies has said it will recommend its shareholders accept an offer from Kuwaiti firm Agility Logistics, through which Agility subsidiary National Aviation Service [...]
Lufthansa suspends all fights to Ukraine amid invasion fears February 20, 2022 Lufthansa has announced it will be suspending all flights to the Ukraine capital Kyiv from tomorrow as fears of a Russian invasion grow. The German airline said it will also stop flights to Odessa, a key port city on the Black Sea. The response contrasts to the Irish budget airline Ryanair and the Hungarian Wizz [...]
The sky is the limit: Sustainable aviation does not need to be an oxymoron February 19, 2022 Aviation and sustainability don’t exactly go hand in hand. With aviation responsible for approximately 2.5 per cent of the carbon emissions that are warming the planet, according to the International Energy Agency, clearly something needs to be done. “Businesses and consumers alike agree that flying less is vital today than it has been in the [...]
NAS goes on shopping spree and acquires an additional stake in Menzies February 18, 2022 Kuwait-based firm seems to have gone on a shopping spree today, as it announced its parent company Agility had acquired an additional stake in aviation services giant Menzies. The company said it had entered contracts to buy a further 5.3 million ordinary shares, around 5.8 per cent of Menzies’s issued capital at a price of [...]
Shell becomes Singapore’s first supplier of sustainable aviation fuel February 17, 2022 Shell has become Singapore’s first supplier of sustainable aviation fuel (SAF), the company announced today during the Singapore Airshow. “We have delivered some (SAF) to our customers SIA Engineering Company and the Republic of Singapore Air Force,” said Shell’s head of aviation Asia Pacific and Middle East Doris Tan. While the first batch of SAF was blended [...]
Menzies shares rocket after NAS buys stake February 17, 2022 Shares of aviation services firm Menzies soared today 23.94 per cent after the company’s Kuwaiti suitor NAS acquired a stake in the Edinburgh-based company. NAS’s parent company Agility said today in a statement it has entered into contracts to purchase 13.2 per cent of Menzies’ total share capital at 605p per share, becoming the majority [...]
Air France-KLM shares tank following €4bn repayment promise February 17, 2022 Shares of aviation colossus Air France-KLM have tanked 7.94 per cent after the group said today it would repay €4bn of pandemic state aid. The announcement overshadowed the positive results obtained in the fourth quarter because of the easing of restrictions, including a 3.7 per cent increase in the company’s core profit and a €4.8bn [...]
Kuwaiti firm defends £468m takeover proposal following Menzies snub February 10, 2022 NAS, the Kuwait company that proposed to take over UK aviation services provider John Menzies, has defended the £468m bid, saying it had taken into consideration Menzies’s debt levels and ability to generate free cash flows. “We have made an attractive offer that we urge Menzies’ shareholders to consider carefully. Our offer represents a 76 per cent [...]
John Menzies shares take off after firm rejects £468m takeover proposal from Kuwait company February 9, 2022 John Menzies’s shares took off this morning, soaring 34.03 per cent after the airport services firm rejected a £468m ($636m) takeover proposal. The Edinburgh-based company said the proposal made by Kuwait firm Agility Public Warehousing was “entirely opportunistic” as it undervalued the company’s worth. The aviation services provider said Agility Public Warehousing’s proposal of buying [...]
Brexit bust: UK flight compensation for delays likely to drop from £220 to £25 February 8, 2022 The government’s plan to slash flight compensation for delays on UK domestic flights has been branded as “another Brexit win”, as it would impact on consumer refund rights. Earlier last week, the Department for Transport (DfT) announced it had opened consultations over the adoption of the new regulation, which would see the UK adopt a [...]