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Momentum growing in Westminster's airport business

Momentum is growing for Westminster's airport security business...
Momentum growing in Westminster's airport business
"Our Managed Services division now has five separate MoU's in place covering numerous airports in different regions of the world serving an aggregate of approximately 6 million embarking passengers annually."

Momentum is growing for Westminster's (LON:WSG) airport security business as it has signed another memorandum of understanding (MoU) with a government client to supply long term services.

It brings the total to four airport security memorandum of understandings inked in the last 12 months and means the firm now has around 6mln embarking passengers annually under MoU. 

The latest deal is for several international airports within the country concerned, the identity of which was not disclosed, although it does have strong GDP growth, the firm noted.

Peter Fowler, Westminster's chief executive, said: "Notably, three MoU's for long term airport security projects have been signed in the last four months, a number of which have been key targets, which indicates the momentum we are building in our strategically important markets.

"Our Managed Services division now has five separate MoU's in place covering numerous airports in different regions of the world serving an aggregate of approximately 6 million embarking passengers annually. 

"The geographic spread of these opportunities away from our existing operations will greatly mitigate regional risk in the future.

"Whilst there is of course no certainty as to timing or the final outcome of these, or any of the project opportunities in progress, we believe the number of long term, large scale, MoU's now in negotiation is very encouraging."

Updating on progress, Westminster said the MoU signed last February for Airports in Asia was making progress through the parliamentary process.

On the October 2015 deal, the firm has now completed the gap analysis and is moving to contract negotiation stages.

In addition, the MoU signed last month for the significant airport hub has advanced quickly, with our specialist aviation security team organised to deploy next week to carry out gap analysis work ahead of contract negotiations.

Meanwhile, bureaucracy continues to delay the East African MoU, one of the smaller opportunities in comparison to the others, although discussions remain positive, the firm said.

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