Menzies flags losses but wins new business despite

posted on 11th September 2020 by Eddie Saunders
Menzies flags losses but wins new business despite

By Scott Reid, edinburgh news

In an update to investors, the firm said trading had remained tough due to the ongoing impact of the pandemic on global air travel. However, it said it was now re-staring operations and seeing a partial return of flight schedules.

Cargo volumes continue to be more resilient, it added, while its cargo brokerage business is trading ahead of expectations given the current lack of available capacity.

The group, which was forced to lay off thousands of workers amid the crisis, said: “As a result of the very challenging conditions experienced by the industry, revenue to the half year was down approximately 33 per cent, in constant currency, on the prior year.