UK air services group Menzies says travel recovery is gaining pace

John Menzies, the aviation services group, said the recovery in international travel was gaining pace on Wednesday as it struck a cautiously optimistic note. But the UK group said volumes for its ground services and fuelling business remained muted and were unlikely to return to pre-pandemic levels for another two years. The cautious optimism was in contrast to the bullish predictions 24 hours earlier of Ryanair CE Michael O’Leary, who expects his low-cost carrier to return to pre-pandemic passenger numbers this winter. Volumes for ground services at Menzies were 62% lower in the first half of the year compared with the same period in 2019, while fuelling services dropped 45%. However, air cargo services were more resilient, with volumes handled for the period 9% above 2019 levels.  John Geddes, corporate affairs director at the FTSE 250 group, said the company, which provides cargo handling services, refuelling and aircraft maintenance at more than 200 airports around the world, was generally “very positive” but that “you’ve got to be realistic as well”.  “We are still looking at a business that is 60 per cent down on volumes from 2019. We see that returning and it is just a question when that returns.” Geddes said volumes in the UK in particular remained “very, very low”.  The company, along with other UK air services groups, is continuing to lobby ministers for further support.<br/>