By Kristy Dorsey
UK and European markets will be among the last to recover from the airline industry crisis triggered by pandemic travel restrictions, the head of aviation services group John Menzies has predicted, while countries with large volumes of internal travel have already shown “some degree” of rebounding.
Speaking after the Edinburgh-based group posted a £120.5 million pre-tax loss for 2020, chief executive Philipp Joeinig said overall volumes are not expected to regain 2019 levels until 2023. During the 12 months to the end of December, Menzies suffered a 59 per cent decline in ground service activity and a 46% fall in fuel servicing, while air cargo service tonnage held up better, down 18%.