Acquisition of Flight Support

2 August 2012

John Menzies plc

Acquisition of Flight Support

Menzies Aviation (Menzies), the aviation services subsidiary of John Menzies plc, today announces the acquisition of Flight Support, a UK based ground handling business from Airbase Holdings Limited.

Menzies will pay an initial consideration of £4.75m payable in cash, with a further £0.5m payable over the next 2 years. Flight Support is an independent regional UK ground handling company which handles circa 34,000 turnarounds per annum.

The acquisition adds three new airports to the UK ground handling network, Aberdeen, Isle of Man and Guernsey and further strengthens the division's position in Manchester. In terms of customers the acquisition increases existing relationships with Flybe, easyJet, Loganair, Aer Arran and introduces new customers such as CityJet and Blue Island.

The acquisition after allowing for start up costs will be earnings neutral in the current year but is expected to be earnings enhancing in 2013.

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