English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

Swissport sold on to HNA Group

PARIS: Global ground handling and cargo services company Swissport has been sold by French private equity owner PAI Partners to China's HNA Group for CHF2.73 billion.

After acquiring the business in 2005, Spain's Ferrovial Group sold Swissport to PAI in 2011 for CHF900 million

Swissport produced operating revenue of CHF3.0 billion in 2014 and handled 4.1 million tonnes of cargo on behalf of some 700 customers across 270 gateways in 48 countries.

Commenting on the sale, Swissport chairman Thomas Staehelin said: "We are pleased to become part of HNA Group and to continue to further strengthening our service offering and global network."

Swissport 2Adam Tan, president of the HNA Group added: "HNA is excited to support Swissport's world class management team as they continue to provide the highest quality service to the airline industry and their passengers. HNA is committed to Swissport's future success in the global aviation market".

During the past four years Swissport said it has developed strong positions in fast-growing markets in Latin America, the Middle East and Africa. The company also integrated several acquisitions including Flightcare, a leading ground handling operator in Spain and Belgium, IAS (Costa Rica) and Servisair - which it acquired in December 2013 from France's environmental services group Derichebourg.

Ricardo de Serdio, Partner at PAI Partners, noted: "The acquisition by HNA of Swissport confirms the strategic value of the company as being the worldwide leader and consolidation platform in the still fragmented airport services market.

"As identified at the time of our investment, Swissport has proven to be able to successfully capitalize on the underlying market growth in the airport services industry and the consolidation opportunity.

"The acquisition by HNA will enable the company to grow in the underpenetrated Asian markets and in China in particular thanks to HNA's strong roots in the region. PAI has a long established track record of identifying European companies with international growth potential in its sectors of expertise, one of which being Business Services. We are delighted to have been a part of Swissport's successful development over the last four years."

The HNA Group is a multinational company operating in the aviation, airport management, financial services, real estate, retail, tourism and logistics sectors. Last year it generated revenues of over US$25 billion.

News

Written on 20/07/2017, 22:27
america-s-largest-trade-gateway-aims-for-near-zero-emissionsSAN PEDRO BAY, CA: July 19, 2017. The ports of Los Angeles and Long Beach, America's two largest ports, have published a plan to reduce trucks and...
Written on 19/07/2017, 17:41
post-brexit-britain-to-rely-on-emerging-marketsBAAR, Switzerland: July 19, 2017. As Britain's Conservative government acknowledges the one-time cost of leaving the EU could be £66 billion, Agility...
Written on 18/07/2017, 18:26
politics-not-economics-key-to-inequality-says-researchBOSTON: July 17, 2017. Research by Oxfam suggests the poorest half of the world's population has received one percent of the total increase in global...
Written on 14/07/2017, 19:08
first-circular-economy-msc-launchedCRANFIELD, UK: July 14, 2017. Cranfield University is launching the world's first MSc course on the circular economy in October. The part-time...
Written on 14/07/2017, 16:23
delta-q2-cargo-revenue-upATLANTA: July 14, 2017. Delta Air Lines has reported a second quarter (Q2) 2017 net profit of US$1.22 billion on revenue of US$10.79 billion, compared...
Written on 13/07/2017, 19:28
100-companies-can-save-the-planetLONDON: July 10, 2017: New research from the Carbon Disclosure Project (CDP) reveals that 71 percent of all greenhouse gas emissions (GHGs) since 1998,...
Written on 12/07/2017, 18:29
turkey-continues-airlift-to-qatarISTANBUL: July 12, 2017. A report from Reuters says Turkey has sent 197 freighter aircraft, 16 trucks and one ship to Qatar since the political crisis...
Written on 09/07/2017, 20:51
emirates-airline-wins-on-waterAUCKLAND: July 06, 2017. Emirates Team New Zealand returned to a hero's welcome after winning the 35th America's Cup 7:1 against defending champion Oracle...
Written on 07/07/2017, 20:44
lufthansa-cargo-to-gain-from-eu-japan-dealBRUSSELS: July 06, 2017. On the eve of the G20 summit, the EU and Japan have sent a signal to protectionists by agreeing in principle to a deal covering...
Written on 07/07/2017, 19:39
british-business-calls-for-brexit-common-senseLONDON: July 07, 2017. The UK Confederation of British Industry (CBI) says in order to protect jobs and trade flows the UK should remain in the Single...
Written on 07/07/2017, 17:04
uk-customs-approves-cyber-attack-fail-safeLONDON: July 06, 2017. The British International Freight Association (BIFA) says it welcomes the UK government's decision to support 'CCS-UK Fallback', an...
Written on 07/07/2017, 15:44
africa-tops-airfreight-demand-in-mayGENEVA: July 05, 2017. IATA says the global airfreight market rose 12.7 percent in May compared to the same month last year, as capacity rose 5.2 percent...
Written on 06/07/2017, 20:51
flying-cheetah-drone-wins-amazon-competitionCAMBRIDGE, UK: July 05, 2017. 'Hannah M' from Ballymena, Northern Ireland has won the Amazon/UK Civil Aviation Authority (CAA) 'Design a Drone'...
Written on 30/06/2017, 21:01
ethiopian-airlines-makes-room-for-more-flowersADDIS ABABA: June 29, 2017. During the second ICAO Global Air Cargo Development Forum this week, Ethiopian Airlines opened its new air cargo terminal with...
Written on 29/06/2017, 22:17
facing-death-from-starvationHARGEISA, Somaliland: June 29, 2017: Save the Children says more than 20,000 children across nine districts in Somalia risk starving to death unless the...
Written on 29/06/2017, 20:13
uk-logistics-industry-threatenedTUNBRIDGE WELLS, UK: June 29, 2017. Britain's Freight Transport Association (FTA) has warned that without EU workers after 2019, the country's logistics...
Written on 26/06/2017, 21:45
making-the-best-of-an-ipoHANGZHOU, China: June 26, 2017. Best Inc., a logistics company backed by the Alibaba Group, has applied for a listing on the New York Stock Exchange and...
Written on 23/06/2017, 20:22
xpo-hit-by-port-strikeLOS ANGELES/LONG BEACH: June 23, 2017. Port and rail drivers working as independent contractors for XPO Cartage, part of XPO Logistics, began a strike...
Written on 21/06/2017, 22:44
more-disasters-but-less-moneyGENEVA: June 21, 2017. The United Nations says it needs US$23.5 billion in 2017 to provide humanitarian assistance to a record 141 million people in 37...
Written on 21/06/2017, 20:19
switzerland-remains-the-world-s-most-innovative-countryGENEVA: June 21, 2017 – Switzerland, Sweden, the Netherlands, U.S. and UK are the world's most innovative countries according to a new report by produced...

- powered by Quickchilli.com -