Our 2022 acquisition of Menzies Aviation came as the global aviation industry was reeling from its largest shock since World War II. The COVID pandemic that began in 2020 devastated every part of the aviation value chain except air cargo and triggered a 66% drop in global revenue passenger kilometers. Yet, we believed that the skies would brighten.
In 2003, we bought a majority stake in Tristar, the Dubai-based fuel logistics business founded with just three trucks and a vision five years earlier.