Menzies shares down 35% amid airports virus woe

Shares of Edinburgh-based aviation services company John Menzies plc plunged another 35% on Monday amid the impact of the coronavirus on the aviation industry.

Menzies shares fell 35% to around 105p to see the firm’s stock market value plummet to around £136 million. The firm’s shares have fallen about 74% in the past month.

Menzies has 32,000 employees globally. It operates at more than 200 airports in 34 countries for about 500 airlines.

Menzies said on March 10 it temporarily suspended its dividend due to the impact of the coronavirus on its operations “and the ongoing uncertainty of the extent of the impact on the aviation industry.” 

According to thre firm’s website, Menzies’ biggest shareholders are Kabouter Management with 11.84%, Axxion SA with 9.89%, Menzies Family Holdings with 9.38%, Sterling Strategic Value Fund with 7.71%, Lakestreet Capital Partners with 6.47% and DC Thomson & Company with 5.95%.

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Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.