Trading Update

5 July 2019

John Menzies plc

Trading Update

John Menzies plc ("the Group"), the global aviation services business, today announces a half year trading update ahead of its Interim results announcement on 13 August 2019.

Trading across the Group has been disappointing, reflecting the challenges that the wider aviation market is currently facing driven in part by weak cargo volumes and flight schedule reductions. Against this backdrop, performance in the first half of the year has been below expectations and consequently the Board now believes that earnings for the full year are not expected to exceed last year.

As previously announced, the Group has been implementing several actions including a cost rationalisation programme that will deliver at least £10m of cost savings, the majority of which will materialise in 2020, a revitalisation of our commercial offering and a greater focus on returns from the deployment of our systems.

Overall the Board believes that the medium and long term fundamentals of, and prospects for, the business are sound and remain confident that the actions being taken in the current year underpin the Board's expectations for 2020.

Giles Wilson, Chief Executive Officer of John Menzies plc said:

"The overall aviation market is having a difficult year. This inevitably is having an impact on our full year outturn. However, I firmly believe in the structural growth dynamics within our industry and all historical data points to recovery."

"Accordingly, I believe we remain well placed to prosper. Since my appointment I have taken a number of actions to right size the business, we have also restructured our commercial teams to ensure we are ready to seize opportunities as they present themselves."

"We have a great, motivated team and I look forward with confidence."

For further information:

John Menzies plc 0131 459 8018

Giles Wilson, Chief Executive Officer

John Geddes, Corporate Affairs Director

FTI Consulting 0203 727 1000

Jonathon Brill/Alex Beagley/Fern Duncan

Notes to Editors:

1. John Menzies plc is one of Scotland's largest companies where success depends on providing an efficient, high quality, time-critical service to their customers and partners. The company was established in 1833 and its head office is in Edinburgh. Today the company is an international aviation services business with operations worldwide.

2. Menzies Aviation is a leading global provider of passenger, ramp and cargo services. Menzies Aviation operates at 219 airports in 37 countries, supported by a team of some 33,000 highly-trained people. Each year Menzies Aviation serves some 1,000 customers, handling 1.4 million flights, 1.6 million tonnes of cargo and fuelling 4 million turnarounds. Customers include Air Canada, Air France-KLM, American Airlines, Cathay Pacific, Delta Air Lines, easyJet, Emirates, Frontier Airlines, IAG, Lufthansa, Norwegian Air Shuttle, Air Canada, United Airlines and China Airlines. Best in class safety and security is the number one priority each day and every day.

3. Menzies Aviation operates in a structural growth market, which has strong out-sourcing trends as well as progressive market growth. As a global player in the aviation services market Menzies is well placed to be a leading player as the market continues to professionalise and will continue to embrace and develop new technologies to provide market leading service.