The company also reported earnings of $382 million (c. £296m), reflecting a strong 15% margin.

This financial success enabled increased investment in essential equipment, technology, and training, reinforcing customer confidence in Menzies as a reliable long-term partner. Operationally, the company managed over 4.8 million flights (up from 4.5 million previously) and served 250 million passengers (up from 217 million), while also handling a record 2.4 million tonnes of cargo (up from 2 million tonnes).

Strategic expansion saw Menzies strengthen its global footprint, now spanning 300 airports across 65 countries – a 71% increase in countries served since 2021. Key deals in Portugal, Hong Kong, Angola, and Malaysia, alongside growth in established markets like Serbia and Spain, highlighted its successful partnership strategy. The launch of its ‘Pearl Elevated Travel’ brand attracted 2.8 million guests to its 55 lounges, and its freight forwarding arm, Air Menzies International, saw a 16% year-on-year growth in tonnage.

Founded as a John Menzies bookshop in 1833, the firm evolved through news distribution before entering airport services in the 1980s. It divested its distribution arm in 2018 and was acquired by supply chain giant Agility for £763 million in 2022.

Menzies also made significant strides in its Environmental, Social, and Governance (ESG) commitments. It became the first major aviation services provider to have its net-zero targets approved by the Science Based Targets initiative (SBTi) and is progressing towards its goal of 25% electric ground support equipment by 2025, currently standing at 22%.

The company successfully reduced voluntary staff turnover for the second consecutive year and achieved its target of 25% women in senior leadership roles, aligning with the IATA 25by2025 campaign.

Hassan El-Houry, executive chairman, Menzies Aviation, said: “2024 has been a groundbreaking year for Menzies, marked by double-digit growth and record-breaking milestones in both flights and passengers served, and cargo tonnes handled.

“As we reflect on these achievements, we take immense pride in leading the way, delivering high-quality aviation services, while upholding the highest standards of safety and security. With passenger numbers expected to surpass 5.2 billion for the first time and more than 40 million flights taking to the skies in 2025, our vision for the future remains clear: to be the world’s leading aviation services provider.

“We are confident about the future and are committed to responsible expansion, operational excellence, sustainability, and contributing to the powerful and positive force of the aviation industry.”

Philipp Joeinig, group CEO, Menzies Aviation, added: “Strategic expansion has been key to our success over the past four years, resulting in a 41% increase in the number of airports we serve and a 71% growth in the number of countries since 2021.

“Our efforts in nurturing strong relationships with our airline customers and airport partners has created a solid foundation for continued success, with new global opportunities at an all-time high.

“I’m especially proud that we were the first major aviation services business to have our net zero targets approved by the Science Based Targets initiative, reinforcing our commitment to leading from the front and raising the bar in sustainability. Our goal of becoming the undisputed leader in our industry remains central to everything we do, and we look forward to continuing this exciting journey together.”