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John Menzies cuts 17,500 jobs

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Christian Fernsby ▼ | March 27, 2020
John Menzies said on Friday it was cutting more than 17,500 jobs globally and was working with the UK government on the possibility of aid under its emergency loan scheme for large companies, for which it said it did not currently qualify.
John Menzies
Air industry   The airline industry has been among the worst hit by the coronavirus crisis
The airline industry has been among the worst hit by the coronavirus crisis as companies ground most of their flights in response to a collapse in demand and restrictions on travel and movement.

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"John Menzies Plc has existed since 1833 and been listed since 1962, but never have we faced such difficult and unpredictable times," Chief Executive Officer Giles Wilson said in a statement.

Menzies, which offers ground handling, fuelling and cargo handling services for airlines globally, said it was in talks with its lenders as it reviews all options to shore up liquidity.

The company said it was waiting for the refinement of the eligibility criteria for the COVID Corporate Financing Facility (CCFF) of which it currently does not currently qualify for.


 

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