If 2018 was partly a year of transition, then the coming 12 months should be about how quickly and how far John Menzies can travel as a pure aviation services business. The company offloaded its media distribution arm in September as part of a separation that some investors have been agitating about for years.
Menzies traces its origins to a 19th-century Edinburgh bookshop and has gone through various changes including as a high street retailer. Although its headquarters remain in the Scottish capital, it employs more than 33,000 people in dozens of countries. It provides services including refuelling, de-icing and aircraft movements as well as cleaning, freight handling and the operation of airport lounges.
A vocal minority on the shareholder register had long thought there