Today we launched our Annual Review and Sustainability Report for 2022. These moments are always a great opportunity for us to reflect on how we navigated the previous year as well as look to what opportunities lie ahead.
Our people are crucial to Menzies Aviation, and I want to thank everyone for their dedication during an eventful and at times challenging year for aviation.
Notwithstanding the challenges brought about by the Covid-19 Omicron variant, followed by the rapid rebound in air travel, and disrupted summer travel, we still experienced a strong financial performance in 2022, with a 26% increase in revenue compared to the previous year. We seized opportunities throughout the year and expanded into three new countries, Chile, Montenegro and Serbia, strengthened our customer relationships and witnessed record highs in our freight forwarding business and air cargo division.
We have also made progress in further cementing our leading position in aviation services across all our operational regions, with some highlights including:
- our Americas region delivered an outstanding year as measured by safety, operational performance and commercial success making it the best year yet for the region;
- exceptionally high contract renewal rate in Europe was testament to our high-quality service and strong customer relationships;
- Middle East, Africa & Asia was bolstered when we combined forces with National Aviation Services (NAS);
- Oceania & South East Asia performed well in 2022 by diversifying and adapting to create a springboard for further growth across the region;
- and Air Menzies International (AMI) achieved a record year as well as opening four new locations in Germany, Pakistan and Canada.
With a projected full recovery in passenger journeys in 2024 and anticipated global passenger growth over the next 20 years, it is crucial that we have the best talent and experienced leadership to ensure seamless movement of people and cargo across all segments of aviation.
Our acquisition by Agility last year marked a new phase of accelerated growth as we strive to become the undisputed number one in aviation services. This means having the best safety record, the highest growth rate in our market and the largest footprint.
With more than 40,000 colleagues worldwide, the Menzies team is now back at full strength and poised for growth as we work towards converting new business opportunities across all of our regions. Welcome to everyone who joined Menzies in the past year, including our NAS colleagues.
Menzies now possesses the necessary resources to expand our air cargo, ground, and fuel services while focusing on innovation to ensure efficiency, sustainability, and consistency. Safety remains our top priority and a core pillar of our sustainability strategy, alongside ethics, people, and the environment.
We are making progress across all these pillars as we work towards a fair and sustainable future. Collaborating with customers and partners is high on the agenda, supporting their sustainability goals and the industry’s net-zero targets.
Our leadership team remains dedicated to executing our business strategy, prioritising responsible and sustainable growth. This involves optimizing our portfolio mix, pursuing new business opportunities and markets, improving margins, prioritising customer satisfaction, and fostering a people-centric approach.
I extend my appreciation to our customers, partners, and everyone at Menzies for their support throughout the year. It is an exciting time to be part of our company.
Philipp Joeinig
Group CEO